Haldia Petrochemicals to Expand its Existing Polymer Capacity by 50%
- Journalist: Jaideep Kumar
Haldia Petrochemicals, one of the leading petrochemical producers in India has announced the expansion of its overall polymer production capacity by 50 percent. By an addition of 345 KTPA to its existing 700 KTPA, HPL will become a 1 million tonne capacity plant. Total expenditure due for this project is around INR 85000 million.
In addition to the upcoming polymer capacity expansion, Haldia Petrochemicals, is heard undertaking the work on two new projects with a total investment of INR 14000 million. The project includes an INR 8000 million worth coal power plant for captive consumption along with an INR 6000 million unit to manufacture white mineral oil.
For proceeding with the land allotment and port access permits along with other facilitative services, HPL has accomplished terms with Syama Prasad Mukherjee port trust, Kolkata. In support, Vinit Kumar, chairman of the Kolkata port has allotted 6 acres of land and has even permitted the company to import around 300 KTPA of Naphtha for its polymer plant.
HPL project holds the largest share among all the industries that the Calcutta Port Trust (CPT) is looking forward to promoting. Till now, the company has entered into 35 agreements worth INR 2,50,000 million with various stakeholders.
As per ChemAnalyst, “The upcoming plans of Haldia Petrochemicals are expected to widen the state’s presence in India’s petrochemical sector. As the company presently utilizes Naphtha for its industrial heating purpose, the addition of a coal-based power plant will reduce its power spending in addition to giving it a competitive edge over its peers.”