Haldia Petrochemicals may raise production to 240 tonnes/hour

KOLKATA: Haldia Petrochemicals Ltd (HPL) is mulling to raise its output to 240 tonnes per hour and will be carrying out a technical audit to raise its productivity.

West Bengal Industry Minister Partha Chatterjee said, “We held a meeting today to explore the possibilities of increasing productivity of HPL. We are in talks with the lenders so that financial support can come. HPL board has informed the lenders of its plan. Earlier, 140 tph was the productivity against a capacity of 250 tph. It is currently at 180 tph and we are looking to increase it to 220 tph soon. The target is to reach 240 tph.”

HPL is considered as the second largest manufacturer of polyethylene in India and co-promoted by the state government and the Chatterjee Group(TCG). The firm presently has an accumulated loss of over Rs 1,200 billion as compared to peak net worth of Rs 28.44 billion. The overall debt is nearly Rs 37 billion.