Haldia Petrochemicals Ltd.'s expansion plans with estimated investment of Rs 800 crore are in the final stages after board clearance. Despite the ongoing imbroglio between the two main promoters, The Chatterjee Group (TCG) and the government of West Bengal (GoWB), HPL had finalised major expansion plans in the downstream area after almost six years of operations. According to sources, the expansion is likely to be funded through a combination of internal accruals and borrowings, mainly from overseas market in the form of external commercial borrowing (ECB) or foreign currency convertible bonds (FCCB).
HPL is expected to declare its maiden dividend in 2005-06. Currently, HPL has reserves of around Rs 500 crore, which would be reinvested or distributed as dividend. HPL estimates a net profit of Rs 600 crore for 2005-06 following a cut on import duty on naphtha.
06-Apr-06 
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