Philips Carbon Black Limited (PCBL), one of India’s leading carbon black manufacturer, announced that the Government of Andhra Pradesh has approved the allocation of 116.62 acres of land in the Naidupeta MPSEZ.
The allocation paves the way for PCBL to establish a cutting-edge manufacturing unit for rubber black and value-added chemicals.
Terms of Land Allotment
The government’s approval, issued via a formal notification, is contingent upon the de-notification of the Naidupeta SEZ in favour of PCBL.
Additionally, the company must meet other specified conditions outlined in the notification. The land is priced at ₹1,948 per square meter, subject to these requirements.
Investment and Project Details
PCBL plans to invest ₹37.18 billion in the ambitious project.
The proposal received the green light during the State Investment Promotion Board (SIPB) meeting held on November 19, 2024.
The decision followed a recommendation by the State Investment Promotion Committee (SIPC).
Conditional Requirements for PCBL
The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has set specific conditions for the project.
PCBL must adhere to defined investment and employment commitments and comply with the project timelines to retain the land allocation.
As reported by constructionworld.in, by fulfilling these requirements, PCBL aims to boost local industrial growth and employment opportunities in Andhra Pradesh.
