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RPG group company Phillips Carbon Black Ltd on Tuesday said it would invest close to Rs 500 crore on its new greenfield carbon black plant near Chennai.
“We are in the process of getting 60 acres of land at SIPCOT Industrial Park close to Chennai for our latest greenfield project in South India and the investment could be close to Rs 500 crore,” PCBL Chairman Mr Sanjiv Goenka said today while announcing the company’s results for Q4, ended March, 2011.
The company registered a lower Q4 profit of Rs 33.29 crore, down by 8 per cent compared to the corresponding period last year, due to its higher deferred tax burden.
The capacity of the latest plant would be not less than 1,40,000 tonnes per annum and it could be as high as the 2,00,000 lakh tonnes indicated by Mr Goenka earlier.
With the completion of PCBL’s 50,000-tonne expansion at the Mundra project in Gujarat, the installed capacity would rise to 4,10,000 tonnes and 76 MW of power generation.
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