Philips Carbon Black Ltd (PCBL), has been granted 116.62 acre of land by the Andhra Pradesh Government to establish a cutting-edge manufacturing facility. The project, slated to be located at the Naidupeta MPSEZ, will focus on producing rubber black and value-added chemicals, subject to necessary approvals, including the SEZ de-notification.
The land, allocated at a cost of Rs 1,948 per sq m, forms the foundation for an ambitious investment of Rs 3,718 crore. The development is poised to create 200 direct employment opportunities, contributing significantly to the local economy.
The State Investment Promotion Board (SIPB) approved the proposal after a thorough evaluation by the State Investment Promotion Committee (SIPC). The project is expected to align with the state’s broader industrial growth strategy.
PCBL’s allocation comes with certain conditions, including meeting stipulated investment and employment benchmarks and adhering to timelines set by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC). This initiative reflects the government’s commitment to fostering industrial development and enhancing job creation in the region.