PCBL (formerly Phillips Carbon Black Ltd.) has announced that the Government of Andhra Pradesh has approved the allotment of 116.62 acres of land for the company to establish a state-of-the-art manufacturing facility. The land is located at MPSEZ, Naidupeta, and is earmarked for the production of New Rubber Black and value-added chemicals. The approval is subject to the de-notification of the Naidupeta SEZ and other stipulated conditions.
The project represents an investment of ₹3,718 crore and is expected to generate direct employment for 200 individuals. The land allotment comes at a price of ₹1,948 per square meter, as recommended by the State Investment Promotion Board during its recent meeting on November 19, 2024.
The project is a key initiative under Andhra Pradesh’s Industrial Development Policy (4.0) 2024-29 and is aimed at bolstering industrial growth in the state. The government has instructed various departments, including Power, Water Resources, and Finance, to expedite the necessary approvals and facilitate the project’s timely execution.
PCBL’s upcoming facility will strengthen its position in the specialty chemicals market and align with its long-term growth strategy. The company has expressed its commitment to adhering to the proposed timelines for investment and employment generation as outlined in the approval.