Please review this news and rewrite it in a more formal English . Make it informative and better readability if required. Retain the quotes but may be recasted. The country's largest carbon black producer Phillips Carbon Black Ltd (PCBL) announced commercial production of its Rs 800 crore greenfield carbon black project in Tamil Nadu on Friday.The company exuded confidence to attain peak rate production with the commencement of the second phase of the total 1,47,000 tonne project within FY'24."The first phase capacity of 63,000 tonne commercial production started today. We are aiming at commencing the second phase well within this fiscal," a senior company official told PTI declining to be identified. The greenfield project was executed by PCBL (TN) Limited, a wholly-owned subsidiary of PCBL. The Rs 650 crore was estimated for the 147000 tonne carbon black and Rs 150 crore for 24MW captive power plant.Officials said the project location was selected based on multiple strategic reasons apart from subsidies. The project is located at Krishnapatnam port and Enmore port, enabling import of raw materials (CBFS) & export sales.
Total capex of the company along with 31 MW green power in Tamil Nadu and Kochi , 40000 per annum speciality carbon at Mundra (Gujrat) total capex is estimated is Rs 1200 crore.PCBL was continuously raising its speciality carbon black in the total product mix to improve profitability. It has also established R&Denters at Palej in India and one in Belgium.   The company said the latest Tamil Na