Sharp escalation in cost of HPL's Supermax project cost

Haldia Petrochem’s 'Supermax' project, at an advanced stage of implementation, is witnessing a sharp escalation of cost from Rs 840 crore, to over Rs 1000 crore. Besides cost overrun, the project to expand capacity from 520,000 tpa to 675,000 tpa, has also suffered time overrun, and is likely to be launched during April 2009. The company has also put on hold the proposed plant shutdown scheduled for October 15 2008.
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