Haldia Petrochemicals Ltd (HPL) will invest Rs 3,000 crore to build new units in West Bengal.

At its current production facility in Haldia, it will construct the first on-purpose propylene plant and a phenol unit. Both projects are anticipated to be finished by the first quarter of 2026.

According to him, the phenol factory will be able to produce 185 KTPA of acetone and 300 KTPA of phenol annually.

“With the commissioning of these plants, the overall chemical business portfolio is expected to increase by an additional Rs. 5,000Cr. The company has ambitious targets to complete the project by Q1 2026," said Navanit Narayan, HPL Whole Time Director and CEO.

"As the plans move towards fruition, there will be advancement in areas such as digitization. This will generate direct and indirect employment in the downstream chemical industry. The total industrial scenario evolving around chemicals will witness tremendous growth within a very short period," he added.

The propylene plant will be based on olefin conversion technology (OCT).

The company earned a revenue of Rs 999 crore from speciality chemicals during the last 2022-23 fiscal, according to the spokesperson.