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Haldia Petrochemicals Ltd.

Odisha Govt begins land identification for Haldia Petrochemicals' project

Business Standard, 19th Jan 2019

The Odisha government has started the process of land identification for a mega petrochemical complex proposed by Haldia Petrochemicals Ltd (HPL). Read More


Petrochemical project proposed in Kakinada as a part of AP Reorganisation Act, 29th Dec 2018

Chief Secretary Anil Chandra Punetha has said that the State government is considering the proposal to set up a mega petrochemical project in the Special Economic Zone of Kakinada. Read More


Investors commit ₹4.2 lakh cr. to Odisha, 13th Nov 2018

Haldia Petro’s ₹70,000 crore tops list

The second edition of ‘Make in Odisha Conclave 2018 (MIO 2018)’, held in Bhubaneswar, received overall investment intent of ₹4,19,574 crore across 15 diversified sectors. Read More


NCLT allows more time to Haldia Petrochemicals to submit resolution plan

Business Standard, 23rd Oct 2018

The National Company Law Tribunal (NCLT), Chennai bench, has granted Haldia Petrochemicals more time to submit a revised resolution plan for Nagarjuna Oil Corporation Ltd (NOCL). The development comes after multiple efforts by the Committee of Creditors (CoC) to get a plan with acceptable valuations, according to sources. There are around 15 lenders for NOCL. Read More


QP signs 3-yr naphtha feedstock deal with India’s Haldia, 12th Sep 12 2018

Qatar Petroleum has signed a three-year sale agreement to supply India’s Haldia Petrochemicals Limited (HPL) in the West Bengal state, with a total of 600,000 tonnes of light naphthaRead More


India's Haldia to shut petrochemical complex May 10 for planned maintenance, 6th Apr 2018 

India's Haldia Petrochemicals plans to shut its petrochemical complex in West Bengal on May 10 for planned maintenance, sources close to the company said FridayRead More


HPL catches profit pulse, 28th Aug 2017 

Purnendu Chatterjee's Haldia Petrochemicals has emerged as the second most profitable private sector company out of Bengal after scripting a remarkable turnaround of its business. Read More

The Chatterjee Group plans Haldia consolidation for Indian operations
Business Standard, 23rd April 2017
After settling the long-drawn dispute with the West Bengal government over the shareholding pattern in its flagship project, Haldia Petrochemicals Ltd (HPL), Purnendu Chatterjee-owned The Chatterjee Group (TCG) has started consolidating itself in the state, making Haldia, a port city in West Bengal its stronghold in the country. Read More

TCG seeks land for refinery, 7th Mar 2017
The Chatterjee Group (TCG) has submitted a proposal to the Bengal government to set up a refinery in Haldia and sought the administration's help to locate suitable land for the mega project. Read More

India's HPL looks to ADNOC for crude oil supply to planned refinery, 26th Jan 2017
India's state-owned Haldia Petrochemicals Ltd has signed a memorandum of understanding with Abu Dhabi National Oil Company for crude oil supply to its planned 300,000 b/d refinery in eastern city Kolkata, government officials said Thursday. Read More

After revival, HPL eyes revenue boost
Business Standard, 3rd Nov 2016
Fresh from a turnaround, Haldia Petrochemicals (HPL) is set to post a three-fold jump in revenue for 2015-16 at Rs 10,000 crore. Read More

HPL looks to tame debt devil, 16th Oct 2016
Haldia Petrochemicals Ltd, buoyed by a spectacular financial performance, has embarked upon a programme to slice off its debt mountain, which has dogged Bengal's showpiece industrial project since its inception. Read More

Haldia Petrochemicals gets fuel retailing license, 4th Oct 2016
The government has granted a fuel retailing license to Haldia Petrochemicals Ltd, a joint venture of the Gujarat government, Indian Oil Corp., the Tata group and The Chatterjee Group, in a bid to boost competition in the fuel retail market. Read More

Haldia Petrochem to post 3-fold increase in revenue
Business Standard, 28th July 2016
Haldia Petrochemicals Ltd (HPL), once considered a 'potentially sick' firm, is set to post a three-fold increase of in its top line at Rs 10,000 crore for 2015-2016, company sources said. Read More

The Chatterjee Group buys Mitsubishi Chemical's PTA business in India
Business Standard, 28th July 2016
Japan's Mitsubishi Chemical Corporation (MCC) has signed an agreement to sell its purified terephthalic acid (PTA) business in India, MCC PTA India Corp Private Limited (MCPI), to Chatterjee Management Company - a part of Purnendu Chatterjee-owned The Chatterjee Group (TCG) - in a deal estimated at $ 48 million (about Rs 320 crore). Mitsubishi Chemical has a manufacturing facility of PTA, a raw material for polyester, in Haldia, West Bengal. Read More

Haldia Petro seeks to merge cracker units with itself, 26th May 2016
Haldia Petrochemicals Ltd (HPL), controlled by Purnendu Chatterjee's The Chatterjee Group (TCG), has proposed the amalgamation of wholly-owned subsidiaries Haldia Cracker (HCCL) and Bengal Cracker (BCCL) with itself. Read More

Once a defunct co, HPL now aims to regain glory under Purnendu Chatterjee
The Economic Times, 25th January 2016
Purnendu Chatterjee, like the mythical phoenix, seems to have risen from his own ashes. Literally. Read More

How Haldia Petro made a turnaround in 12 months, 11th January 2016
Around this time last year, Haldia Petrochemicals facility was dangerously ill. As the promoters — the West Bengal government and The Chatterjee Group (TCG) — fought a battle for control, the company's net worth eroded. Production came to a halt. Read More

Haldia Petrochemicals likely to be a game-changer for investments into Bengal
The Economic Times, 7th January 2016
When Rs 653 crore worth of foreign direct investment -the "largest ever," according to Amit Mitra, state finance and industry minister - lands in the state coffers just days before Bengal calls the world to come and invest in the state, it serves as a beacon for all others to follow suit. Read More

Haldia Petro stake impasse ends, 3rd January 2016
The Chatterjee Group (TCG) has emerged as the undisputed single largest shareholder of Haldia Petrochemicals Ltd (HPL) after it picked up a part of the Bengal government's shares, bringing down the curtain on a decade-old ownership impasse that dogged the state's showcase industrial project. Read More

Haldia Petro gets tax relief, 14th December 2015
The Narendra Modi-government has handed out a much-needed tax breather to beleaguered Haldia Petrochemicals, Bengal's showpiece industrial project, paving the way for its turnaround. Read More

HPL relief hinges on cabinet call, 22nd November 2015
The Narendra Modi-led cabinet will take the final decision on the tax relief worth Rs 2,277.18 crore sought by the Mamata Banerjee government for beleaguered Haldia Petrochemicals Ltd (HPL). Read More

Tax breather for Haldia Petro, 26th October 2015
A pre-Diwali gift is in store for Bengal's showcase industrial project Haldia Petrochemicals Ltd (HPL), which is set to get a breather in a Rs 2,600-crore tax case from the Narendra Modi-led governmen. Read More

Haldia Petrochemicals has regained health: Mitra, 18th September 2015
State industry and finance minister Amit Mitra today said health has returned to Haldia Petrochemicals Limited, which was going through a crisis sometimes back. Read More

Haldia Petrochemicals Ltd operating at full capacity since February
The Economic Times, 19th Aug 2015
Haldia Petrochemicals Ltd is operating in full capacity since February 2015 and seeking greater flexibility in letter of credit from banks for higher export. Read More

Haldia Petrochemicals might get tax relief
Business Standard, 27th July 2015
After the IISCO plant in Burnpur, the Mamata-Modi bonhomie might bring a second breather for the industrial front for Bengal. The state's showpiece industrial project Haldia Petrochemicals might get a breather from the Directorate General Foreign Trade (DGFT) from the Rs 2,600 crore fine as it failed to respect the export obligation between 2010 and 2013. Read More

Mitra meets Jaitley, seeks HPL lifeline, 23rd July 2015
A day after Mamata Banerjee lashed out at BJP, her finance minister Amit Mitra met his central counterpart Arun Jaitley in Delhi to discuss the fate of Haldia Petrochemicals in yet another proof that public posturing won't come in the way of the two governments working together. Read More

Government rejects Haldia Petro's plea of custom duty relaxation
The Economic Times, 3rd July 2015
The government has rejected the plea of troubled Haldia Petrochemicals Ltd (HPL) seeking relaxation in payment of customs duty for the violation of Foreign Trade Development and Regulation Act, an official said. Read More

Increased demand, lender confidence script HPL revival
Business Standard, 27th May 2015
Good times are back for Bengal's showpiece industrial project Haldia Petrochemicals (HPL). With lenders showing increased confidence, the plant, which was crippling due to shortage of loans and raw materials, is now functioning at optimum level and is gaining back market share helped by an upturn in the commodity cycle. Read More

HPL fills up plastic input gap
Telegraph India, 5th April 2015
Plastic processors in Bengal have heaved a sigh of relief after Haldia Petrochemicals Ltd (HPL) came back to production at full throttle, sparing them from buying raw material at a high cost. Read More

UBI no to Haldia Petro loan, 22nd February 2015
City-based United Bank of India (UBI), a member of the consortium of lenders to cash-starved Haldia Petrochemicals Ltd (HPL), will not extend any further financial assistance to the company. Read More

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