HPL to invest Rs 3,000 crore to set up new chemical plants in West Bengal

New Delhi/Kolkata: Haldia Petrochemicals Ltd (HPL) will invest Rs 3,000 crore to set up new plants in West Bengal, a company spokesperson said on Thursday.

It will build the first on-purpose propylene plant and a phenol unit at its existing manufacturing facility at Haldia, and both the projects are expected to be completed by the first quarter of 2026, he said.

The phenol plant will have a production capacity of 300 kilo tonnes per annum of phenol and 185 KTPA of acetone, he said.

"With the commissioning of these plants, the overall chemical business portfolio is expected to increase by an additional Rs 5,000 crore," HPL Whole Time Director and CEO Navanit Narayan said.

The propylene plant will be based on olefin conversion technology (OCT).

According to the spokesperson, the company earned a revenue of Rs 999 crore from speciality chemicals during the last 2022-23 fiscal.

HPL said the proposed investment will likely be the largest in West Bengal in the chemical sector in the last two decades.

Narayan said the two projects will generate direct and indirect employment in the downstream chemical industry.

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