Rs 300 crore insurance claim likely for Haldia Petrochem for fire in July

21-Aug-09
Haldia Petrochemicals is likely to get Rs 310 crore as insurance claim for a fire at its mother plant on July 2, 2009. Of this amount, Rs 100 crore is for loss of property and Rs 210 crore is for loss of profit. The fire had destroyed a boiler within the naphtha cracker complex and caused collateral damage. It was estimated that HPL is likely to suffer 30% loss of capacity because of the accident, affecting the company’s profitability in 2009-10. The plant is insured by four companies, New India Assurance, National Insurance, United India and ICICI Lombard Insurance Company.
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