Sterlite row forces Phillips Carbon Black reconsider Rs 6-billion investment in TN

It seems the protests against Sterlie Copper plant in Tamil Nadu and the subsequent closure of the factory has made Phillips Carbon Black (PCBL) to reconsider its proposed Rs 6-billion investment in a greenfield plant in the state.

According to a Business Standard report, the RP-Sanjiv Goenka Group-owned company is planning to shift its proposed plant to Telangana or Andhra Pradesh.

It quoted the group’s chairman, Sanjiv Goenka as saying: “We are now concerned about Tamil Nadu and the way the administration handled the (Sterlite Copper) issue. We don’t want to become a pretext for any other tamasha in the future.”

PCBL, as part of its focus to ramp up its current 0.515-million tonne (MT) capacity, had planned a greenfield project in Tamil Nadu and was in advanced discussions with the state government.

Image Credit : capitalmind.in

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