Goa Carbon Ltd looking for overseas expansion options

Goa Carbon Ltd is in expansion mode, looking for opportunities overseas even though their last attempt to set up a greenfield calcined petroleum coke (CPS) project in China to produce 300,000 mt per annum could not be commissioned.

With clients like Hindalco and Vedanta looking to expand, Goa Carbon is also hoping to spread its wings and had bought land in China for the purpose but for reasons unknown the land had to be returned thwarting their overseas attempts.

Chairman Shrinivas Dempo says that at the management level they are still exploring and evaluating options to invest in China and other places although the company does export to overseas countries like France, Greece, Cameroon, Dubai and other countries.

The second largest manufacturer of CPC in India, the company has a total manufacturing capacity of 240,000 tonnes per annum. After its largest plant, the Paradeep Carbon plant in Odisha capable of producing was shut down by the state’s Pollution Control Board, the company suffered a net loss od 5.18 crores in Q3.

Dempo says that the once the Paradeep plant recommences, things will start improving for the company.

The company caters to the top aluminium companies including Nalco, Balco, Hindalco, Sesa Sterlite and Vedanta.