Taiwanese synthetic rubber manufacturer China Synthetic Rubber Corporation (CSRC) is planning to invest about Rs 1,000 crore to set up a manufacturing facility in Gujarat.
Taiwanese synthetic rubber manufacturer China Synthetic Rubber Corporation (CSRC) is planning to invest about Rs 1,000 crore to set up a manufacturing facility in Gujarat. The international manufacturer and distributor of carbon black is looking for 100-acre land near a port area. “The company has approached the state government and it is keen to setup manufacturing unit. Currently, it is looking for appropriate land for the project. This will attract investment of approximately Rs 1,000 crore in Gujarat,” said D Thara, vice-chairman and managing director of Gujarat Industrial Development Corporation (GIDC). CSRC is scouting for land near the port area and it has identified some places near Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), for the proposed project. The state government is hoping that this investment will help generate new employment in the state. Moreover, development of related industries is also possible, Thara said. “This kind of investment will help the state generate direct and indirect employment in future. Further development in associate industries such as logistics is also possible,” he added. The Gujarat government and CSRC will soon sign a memorandum of understanding (MoU) once the company finalises location for the manufacturing facility. Carbon black is used as a reinforcing filler in tyre and rubber manufacturing. That apart, it also has applications in the plastic and paint industry.