HPL to invest Rs 3,000 crore to set up new chemical plants in West BengalHaldia 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. 5,000Cr. The company has ambitious targets to complete the project by Q1 2026," said Navanit Narayan, HPL Whole Time Director and CEO."As the plans move towards fruition, there will be advancement in areas such as digitization. This will generate direct and indirect employment in the downstream chemical industry. The total industrial scenario evolving around chemicals will witness tremendous growth within a very short period," he added.The propylene plant will be based on olefin conversion technology (OCT).The company earned a revenue of Rs 999 crore from speciality chemicals during the last 2022-23 fiscal, according to the spokesperson.The proposed investment will likely be the largest in West Bengal in the chemical sector over the over the last two decades and has also led to an increase in the number of ancillary units, said HPL.Read more at:https://economictimes.indiatimes.com/industry/indl-goods/svs/petrochem/hpl-to-invest-rs-3000-cr-to-set-up-new-chemical-plants-in-west-bengal/articleshow/104374385.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst (ICE MUMBAI)

Fonte notizia: Economic Times