TITLE

Haldia Petrochemicals to shut plant due to capacity expansion

PUB. DATE
March 2008
SOURCE
Chemical Business;Mar2008, Vol. 22 Issue 3, p50
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of Haldia Petrochemicals (HPL) to shut down its plant in India, due to capacity expansion. It notes that the firm is spending about 900 crore on capacity expansion. According to HPL managing director S. K. Bhowmik, there will be an additional burden of 400 crore on the company as it increases its plant capacity to increase in import duty on naphtha. He adds that the firm imports 80% of its naphtha need and obtains the remaining from Indian Oil Corp. and others.
ACCESSION #
32918483

 

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