Goa Carbon slips by 1.57% after temporary halt of Paradeep and Bilaspur units
Goa Carbon, a public undertaking, is hugely dependent on three of its plants for revenue generation. The company temporarily shut down two of its plants, the Bilaspur unit in Chhattisgarh, and the Paradeep unit in Orissa, for undergoing maintenance, because of which it experienced a fall of 1.57% in shares prices to ₹429.
A prominent supplier of calcinated petroleum coke in India
Apart from the other two plants, Goa Carbon's primary plant is situated in Goa itself which consists of the largest mechanical screening and sieving facilities for petroleum coke in India. Calcinated petroleum coke is a residue from the distillation process of crude oil and is used for the manufacturing of aluminium.
The Paradeep Unit, located at Vill. Udayabata, Paradeepgarh, Dist. Jagatsinghpur, Odisha has been shut down for maintenance work from 20 August 2022, while the Bilaspur Unit, Chhattisgarh has been shut down from 19 August 2022.