Haldia Petrochemicals to Invest Rs 3,000 Crore in India's First Phenol Plant and On-Purpose Propylene Unit

Haldia Petrochemicals Ltd (HPL) has unveiled plans to invest Rs 3,000 crore in establishing groundbreaking chemical plants in West Bengal. The project includes India's first on-purpose propylene plant and a phenol unit at its existing manufacturing facility in Haldia. The phenol plant, set to be the country's largest, will boast a production capacity of 300 kilo tonnes per annum of phenol and 185 KTPA of acetone. These ventures are expected to be completed by the first quarter of 2026, marking a significant milestone for HPL. The propylene plant, based on Olefin Conversion Technology (OCT), positions HPL as India's first integrated player in the phenolics chain. The company anticipates a substantial increase in its chemical business portfolio by an additional Rs 5,000 crore upon the commissioning of these state-of-the-art facilities. This investment is touted as the largest in West Bengal's chemical sector in the last two decades and is poised to generate direct and indirect employment opportunities in the downstream chemical industry. With a revenue of Rs 999 crore from specialty chemicals during the 2022-23 fiscal year, HPL's move signals a strategic and transformative step in reinforcing its presence and contributions to India's chemical manufacturing landscape. The groundbreaking ceremony for the project was recently held, attended by senior officials of the company, marking a pivotal moment in India's chemical industry.