CSRC to build new carbon black plant in India

China Synthetic Rubber Corp. (CSRC) based in Taiwan announced its intention to build a carbon black manufacturing plant in Visakhapatnam, Andhra Pradesh, India. Carbon black is used as a pigment and reinforcement in automobile tires. The plant is expected to cost NT$9.73 billion (US$330 million). In a ceremony held to announce the new plant held in Hyderabad, Pan Kai-tien, chairman of Continental Carbon India, a subsidiary of CSRC, announced that the new plant will bring 3,000 to 4,000 jobs to the area. He also stated that the new plant should generate revenues of NT$17.69 billion (US$600 million). This new carbon plant makes the eighth carbon black plant owned by CSRC. At the present time, CSRC has three factories in the U.S., two in China, and one in Taiwan and in India. CSRC is ranked fifth in the world in the carbon black market. CSRC is a subsidiary of the Taiwan Cement Group. (March 3, 2011)