PCBL Chemical acquires 116.62 acre in Andhra Pradesh for Rs 37.18 bn plant

29 Nov 2024 CW Team

Philips Carbon Black (PCBL), a carbon black manufacturer, announced on that the Government of Andhra Pradesh has approved the allocation of 116.62 acre of land at Naidupeta MPSEZ for the establishment of a rubber black and value-added chemicals manufacturing unit.

In a regulatory filing, PCBL informed that the Government of Andhra Pradesh had, through a notification, granted approval for the allotment of 116.62 acre of land, contingent upon the de-notification of the Naidupeta SEZ in favour of the company and fulfillment of other conditions mentioned in the notification.

The land is priced at Rs 1,948 per square meter, subject to the de-notification of the Naidupeta SEZ and compliance with specified conditions. PCBL intends to invest Rs 37.18 billion in the project, which is expected to create direct employment for 200 individuals.

The proposal received approval during the State Investment Promotion Board (SIPB) meeting on November 19, 2024, following recommendations from the State Investment Promotion Committee (SIPC).

The land allocation is conditional on PCBL meeting the outlined investment and employment commitments and adhering to the project timelines set by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

Real Estate

26 Jun 2026

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..

Adani Airport City Plans Rs 200 Bn Investment

Adani Airport City Limited (AACL), a wholly owned subsidiary of Adani Airport Holdings Limited (AAHL), has announced a programme to develop integrated airport cities across its airport network. The first phase will involve an investment of more than Rs 20,000 crore and cover around 22 million sq ft across Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati.The development spans over 655 acres across six airports in five states. Nearly 440 acres are located in Mumbai and Navi Mumbai, which will receive close to 70 per cent of the planned investment. The focus reflects the Mumbai Metrop..

Vedanta contributes Rs 627.22 billion to exchequer

Vedanta Limited contributed Rs 627.22 billion to the exchequer in FY26, according to its 11th Tax Transparency Report. The contribution accounted for 36 per cent of the company’s consolidated revenue from operations and reflected its focus on transparent governance, fiscal discipline and nation-building.The FY26 contribution marked a 13.3 per cent increase over the previous year. Vedanta’s cumulative contribution to the exchequer over the past decade reached Rs 4.83 trillion. The company said the Group ranks among India’s top three private-sector contributors to the national exchequer.Th..