On Wednesday (March 2), Taiwan-based China Synthetic Rubber Corp. (CSRC) announced that it will invest NT$9.73 billion (US$330 million) to build a new carbon black manufacturing plant in Visakhapatnam, Andhra Pradesh, India. The first stage of production is expected to be completed within two years. Capacity figures were not released.
The announcement ceremony was held in Hyderabad and was attended by Andhra Pradesh Chief Minister N. Kiran Kumar Reddy, CSRC Chairman Leslie Koo, and Pan Kai-tien, chairman of the Continental Carbon India Ltd., which is CSRC’s subsidiary in India.
According to Focus Taiwan, Pan said the planned factory will create 3,000 to 4,000 jobs, and generate a revenue of around NT$17.69 billion (US$600 million) after the three-stage construction of the plant is completed.
Minister Reddy voiced his welcome for the investment and suggested Koo can soon consider expanding investment in his state.
CSRC is the fifth largest carbon black producer in the world, with 680 KTPY of capacity at seven plants (three in the US, two in China, one in India, and one in Taiwan).