PCBL Secures 116.62 Acres in AP for ₹3,718 Crore Manufacturing Unit

1 Dec 2024 , 07:27 PM

Philips Carbon Black Ltd (PCBL) said the Government of Andhra Pradesh has agreed to allocate 116.62 acres of land at Naidupeta MPSEZ for the proposed rubber black and value-added chemicals manufacturing unit. Land allocation is subject to de-notification of Naidupeta SEZ in favor of PCBL and fulfilling other conditions specified.

Cost for the land has been marked as ₹1,948 per square meter; if these conditions are met then the allotment would get its final. The Company intends to invest in this project of ₹3,718 crore, this investment will provide direct employment for the 200 people.

The approval was accorded in the State Investment Promotion Board (SIPB) meeting held on November 19, 2024, based on the recommendations of the State Investment Promotion Committee (SIPC). The project will be considered successful only if PCBL meets the investment and employment commitments as promised by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and also adheres to the time schedule specified.

The development of this manufacturing unit is going to significantly contribute to the growth of the chemical and manufacturing sectors in Andhra Pradesh and support the state’s industrial development goals.