HPL marks 25 yrs of ops, set to have more downstream projects
Times of India | 3 April 2025
Kolkata: In a message to employees on the occasion of Haldia Petrochemicals Ltd (HPL) completing 25 years of operation, HPL chairman Purnendu Chatterjee indicated more investment in downstream projects. "Encouraged by strong performance over the past decade, we undertook several expansion projects. The Butene I project and the Captive Power Plant are already operational, and a large phenol project is under construction. Looking ahead, we are planning more downstream investments that will drive next phase of growth," Chatterjee said.
Recalling the formative years, Chatterjee said: "Despite initial doubts about the viability of the project in the eastern region and the numerous hurdles we faced, it is immensely gratifying to see how far we have come. Today, HPL holds a pivotal position in the industrial landscape ofBengal and the eastern region." He also pointed out that HPL had played a pioneering role in the establishment of nearly 1,000 downstream units, which generated approximately 7 lakh jobs in the region.
"As you all know, petrochemicals industry is cyclical and is currently facing a slowdown due to volatility in crude prices, geopolitical uncertainties, and weakened domestic demand. However, our experience taught us that resilience during such times is crucial," he said.
HPL wholetime director & CEO Navanit Narayan said that the next 12 months will be a cornerstone for the organisation as it undertakes a comprehensive turnaround of the plant, starting mid-April.