RP-Sanjiv Goenka Group owned Phillips Carbon Black (PCBL) has earmarked Rs 200 crore for the current fiscal year to carry on debottlenecking of its twin plants in Palej and Mundra in Gujarat as well as ramp up its capacity from the existing 0.47 mt to 0.51 mt.
However, the group’s chairman, Sanjiv Goenka did not mention the timeframe of this investment. The company, while setting up these plants six years back had incurred an estimated Rs 350 crore capital expenditure of Rs 350 crore. The company which was under stress of nearly Rs 900 crore loan has been trying to bring down its finance costs and was able to decrease its by 42.8% in the six months ended September 30, 2016. Goenka projected the debt burden has decreased by nearly Rs 200 crore till the second quarter of the current fiscal year.