Jul 5 2007
Phillips Carbon Black Ltd. (PCBL), an RPG company today (July 4, 2007) signed in Kolkata a Memorandum of Understanding (MOU) with Vietnam National Chemical Corporation (Vinachem), in the distinguished presence of the Prime Minister of Vietnam Mr. Nguyen Tan Dung. The MOU was signed by Mr. Sanjiv Goenka, Chairman, Phillips Carbon and Mr. Nguyen Ngoc Tuan, Member of the Board on behalf of Vinachem for a feasibility study for setting up carbon black manufacturing facility in Vietnam.
PCBL is India’s largest carbon black manufacturer and the biggest exporter of carbon black. It exports carbon black to 15 countries including Vietnam.
“This will be PCBL’s first overseas venture and will pave the way for increasing its global footprint. Presently, PCBL’s global ranking is 9th which is expected to improve after completion of various projects in the next 18 months” said
Mr. Sanjiv Goenka, on the sidelines of the CII function.
Phillips Carbon and Vinachem will form a joint venture with majority holding by PCBL for setting up carbon black manufacturing facility in Vietnam. This will be the first carbon black plant in Vietnam. The availability of natural rubber and with proposed carbon black facility, Vietnam is emerging as an attractive location for tyre manufacturers.
Presently, PCBL has carbon black manufacturing facilities at 3 locations in India viz., Durgapur in West Bengal, Baroda in Gujarat and Kochi in Kerala with total capacity of 2,70,000 MT. Currently, PCBL is setting up a green field project at 4th location viz., Mundra in Gujarat. The total capacity is expected to increase to 3,95,000 MT before end of next financial year. PCBL has cogeneration power facilities at all the 3 locations and it is presently expanding the capacity at Durgapur Plant by 30 MW. With new cogeneration power plants at Mundra and Cochin, power generation capacity is expected to increase to 74.50 MW from 18.50 MW before end of next financial year.