After acquisition of the captive power JV- HPL Cogeneration Limited, Haldia Petrochemicals Limited is planning a INR 70 crore investment in the power plant to cut down on energy bills; by reducing the use of high cost naphtha with petrochemicals gas and several low cost petrochemical by-products as feedstock to produce power. This move will aid HPL to save on energy expenditure, improving company bottom line by INR 155 crore pa.
The 2 part project will be implemented over a period of 12 to 15 months, part of the benefits of the project may start reflecting in the HPL balance sheet beginning this fiscal.
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