China Synthetic Rubber considering India location
Taiwan-based China Synthetic Rubber is considering investing 10 billion rupees (126 million euros; £110.9 million; US$146.8 million) in a carbon black manufacturing facility in Gujarat, India. According to the Financial Express, the company has identified potential locations in the chemicals and petrochemicals investment region for the proposed project.
D Thara, vice-chairman and managing director of the Gujarat Industrial Development Corporation, said: “The company has approached the state government and it is keen to set up a manufacturing unit. Currently, it is looking for appropriate land for the project.”
The Gujarat government and China Synthetic Rubber are reportedly expected to sign a memorandum of understanding (MoU) once the company finalizes the location for the manufacturing facility in the western state that offers port access.