Haldia Petrochem completes Project Supermax; to reopen with higher capacity

Haldia Petrochemicals (HPL) has completed Project Supermax, augmenting ethylene capacity and is ready to reopen shortly, after a three month expansion shutdown. The naphtha cracker has been shut since November 2009 to commission the Rs 1230 crore Project Supermax, aimed at increasing ethylene capacity from 520,000 tpa to 670,000 tpa. Meanwhile, HPL has merged HPL Cogeneration with itself to reduce costs. HPL had bought L&T’s 51% stake in HPL Cogeneration last year at a consideration of Rs 180 crore, following which it became a 100% subsidiary of HPL. HPL Cogeneration produces 118 mw of power and uses naphtha as a fuel and supplies power and steam exclusively to HPL. HPL has also embarked upon implementation of a Rs 70-crore power plant project by using the gases produced during the breakdown of naphtha.
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