In a significant stride towards bolstering chemical production, Haldia Petrochemicals Ltd (HPL) has revealed plans to infuse a whopping Rs 3,000 crore into establishing state-of-the-art HPL new chemical plants in West Bengal. This strategic move was confirmed by a company representative on Thursday.
The ambitious venture encompasses the construction of a pioneering on-purpose propylene plant and a cutting-edge phenol unit, both to be seamlessly integrated into HPL’s existing manufacturing facility in Haldia. Anticipated to conclude by the initial quarter of 2026, these projects mark a pivotal advancement in the region’s chemical infrastructure.
The phenol plant is slated to achieve a remarkable production capacity of 300 kilotonnes per annum of phenol and an additional 185 KTPA of acetone. This development is poised to significantly amplify HPL’s chemical business portfolio, foreseeably contributing an impressive INR 5,000 crore.
Distinguished by its utilization of olefin conversion technology (OCT), the propylene plant stands as a testament to HPL’s commitment to cutting-edge innovation.
In the financial year 2022-23, the company garnered a noteworthy revenue of INR 999 crore from specialty chemicals alone, underscoring its robust market presence.
This forthcoming investment is primed to represent the largest infusion of capital into West Bengal’s chemical sector within the last two decades, setting a new benchmark for industrial growth in the region.
Speaking on the transformative projects, Narayan emphasized their far-reaching impact on both direct and indirect employment within the downstream chemical industry. This move is poised to create a ripple effect, fortifying the economic landscape of West Bengal.
Haldia Petrochemicals Ltd., commonly known as HPL, stands as one of India’s leading petrochemical companies. Commencing commercial operations in the year 2000, HPL is headquartered in Kolkata, West Bengal, India, and boasts a significant petrochemical facility situated in Haldia, in the eastern region of the country.
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