India's largest carbon black manufacturer, Phillips Carbon Black, has given the go-ahead for production to start at its two specialty black lines in Palej, Gujarat. The two lines will be dedicated to producing a host of specialty black products. The two specialty black lines totaling about 32,000 MTPA are for servicing the growing needs of customers, said the RP-Sanjiv Goenka Group subsidiary.
The announcement was made after market hours on 17th February 2021. Shares of Phillips Carbon Black fell 1.05 per cent to settle at Rs 197.60 yesterday. The stock hit a 52-week high of Rs 212.4 on 09 February 2021. The stock hit a 52-week low of Rs 54.2 on 24 March 2020.
The company had said in January that the greenfield project of about 150 KTPA for manufacture of various grades of carbon black and 23 MW of cogeneration power over 60 acres of land in Tamil Nadu is progressing strategically and is expected to be commissioned by March 2023. Also, the 7 MW co-generation power plant in Kochi, Kerala is expected to be commissioned by end of 2021, it added.