Upbeat about sales to the tune of Rs 8,000 crore during the fiscal 2006-07, Haldia Petrochemicals Limited (HPL) is mulling plans of setting up a new plant near its existing facility at Haldia. The proposal is expected to be placed before the board by the end of the current calendar year to explore options to manufacture various petrochemical products. The capacity expansion plan will be pursued despite the legal battle between the West Bengal government and The Chatterjee Group, the two founding promoters. Funding for the new plant will be done from internal accruals and debt. Besides the new unit, the expansion of the present facility would be completed by the Q1-2007. HPL is expanding its ethylene capacity of 5,20,000 tpa to 6,70,000 tpa, at a cost of Rs 672 crore.
03-Apr-07 
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