Haldia Petrochemicals promoter proposes 8 allied chemical projects worth Rs 4,000 crore

31-May-11
Purnendu Chatterjee, Haldia Petrochemicals Ltd (HPL) promoter, has proposed eight allied chemical projects worth Rs 4,000 crore. HPL mulls chemical downstream units like those for synthetic rubber, used in the tyre industry, or pharmaceuticals intermediates. Some projects will involve foreign investment partners. This may be difficult until the legal wrangle between TCG and the Government is sorted out. The Chatterjee Group (TCG) and the West Bengal Industrial Development Corporation (WBIDC) have been locked in a court case for six years over who holds the majority in the HPL. The proceedings are over in the Supreme Court and the verdict is awaited from the two-judge bench.
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