Haldia Petrochemicals to infuse Rs 3,000 crore for setting up chemical plants in West Bengal

13 Oct 2023 , 09:17 AM

Haldia Petrochemicals Ltd (HPL) will invest Rs 3,000 crore in new projects in West Bengal, stated the sources on Thursday. 

It will construct the first on-purpose propylene plant and a phenol unit at its current Haldia production facility, with both projects slated to be finished by the first quarter of 2026.

According to sources, the phenol factory will have a capacity of 300 kilo tonnes per annum of phenol and 185 kilo tonnes per annum of acetone.

As the plans progress, there will be advancements in areas such as digitization. This will result in both direct and indirect job creation in the downstream chemical industry. The overall industrial environment forming around chemicals will experience substantial expansion in a relatively short period of time.

The olefin conversion technology (OCT) will be used in the propylene plant.

According to the reports, the business generated Rs 999 crore from speciality chemicals during the fiscal year 2022-23.

According to HPL, the proposed investment is anticipated to be the greatest in West Bengal’s chemical sector in the last two decades, and it has resulted in a rise in the number of ancillary units.

 

For feedback and suggestions, write to us at [e-mail]