RPG Group to Invest $235 million in Carbon Black Expansions through 2010
According to its chairman, Rama Prasad Goenka, RPG Group (Kolkata) plans to invest Rs. 9,000 crore ($2.1 billion) in its power, tire and carbon black businesses over the next two years. Of this total, Rs. 6,000 crore ($1.4 billion) will be invested in the Calcutta Electric Supply Company, Rs. 2,000 crore ($470 million) will be invested in Ceat Tyres, and Rs. 1,000 crore ($235 million) will be invested in Phillips Carbon Black.
News article from DNA on the expansion announcement.
Phillip Carbon Black has three major expansions planned. In May 2008, Phillips Carbon Black signed an agreement with several Vietnamese companies to build Vietnam’s first carbon black plant. The plant is scheduled for startup in 2009. Phillips is also building a new plant at Mundhra, India, and expanding capacity at its plant in Cochin, India. Both of these projects are expected to be completed in 2009.