Established in late 70s, Gujarat Carbon Industries belongs to the house of Goenkas. Earlier known as Consolidated Petro Tech Industries, its name changed to the present one in Apr.'94. The company manufactures carbon black and methyl ethyl ketone. Carbon black is a key item in the manufacture of tyres. Methyl ethyl ketone is a solvent used in the paint industry. The company proposes to dispose the potato chips plant as the operations were not viable. The company's has modernised carbon black and MEK plants based on existing technology and it was approved by financial institutions. In view of economic changes, it was considered prudent to upgrade the technology and to modernise the plant to the state-of-the-art position. A supplementary proposal is under preparation for submission to financial institutions.