Kolkata (PTI): Phillips Carbon Black Ltd (PCBL) has signed a joint venture with subsidiaries of Vietnam National Chemical Corp for setting up a carbon black facility of 1,00,000 MT and co-generation of 16 MW of power in phases in Vietnam.

The JV was signed on May 9 at Ho Chi Minh City, the company said on MOnday.

However, no further detail was provided about the JV.

PCBL Vice-Chairman Sanjiv Goenka had said the Vietnam plant would be operational by the first half of 2009 and would be the first carbon black plant in that country.

By 2010-11 the company's capacity of carbon black would move to 5,00,000 tonne per annum from 2,70,000 tonne at present from both greenfield and brown field expansion plans.

Beside, Vietnam, a greenfield project was also planned at at Mundra in Gujarat that would add 90,000 tonne per annum.

Cochin was expanding its capacity by 50,000 tonne.

The captive power capacity of PCBL would become 80 MW.

The total cost involved for the expansion would be Rs 600 crore and would be financed in 1:1 debt equity ratio. The equity part would be generated through internal accruals.

Post expansion, PCBL global ranking would be sixth from ninth now.