Phillips Carbon Black signs JV with Vitenamese firm to set up unit

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New Delhi, May 12 (UNI) Phillips Carbon Black Ltd today said it has signed a Joint Venture (JV) agreement with Vietnam-based National Chemical Corporation for setting up carbon black facility of 1,00,000 MT and co-generation power plant of 16 MW in phases in Vietnam.

''The agreement was signed between the subsidiaries of Vietnam National Chemical Corporation and Phillips Carbon Black Ltd in Ho Chi Minh City,'' the company said in a statement.

Carbon black, made from crude oil and used for making tyres, has become more expensive after the crude prices rose.

UNI AK PDT ND1704

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