West Bengal Govt agrees to give Rs 100 crores to HPL

24-May-13
West Bengal government, which holds nearly 40 per cent stake in Haldia Petrochemicals Ltd through WBIDC, has agreed to provide Rs 100 crore to the company as demanded by the lenders, within a period of 15 days, as per PTI. An agreement would be shortly signed between the government and WBIDC, the sources added. To tide over the working capital crunch, HPL had approached the consortium of lenders to provide Rs 1000 crore. The lenders in turn asked both the promoters, WBIDC and TCG, to provide Rs 100 crore each. While the government agreed with the proposal, TCG said it would not be able to provide the money as sought by the lenders.
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