Haldia Petrochemicals outlines Rs.4,000 crore investment plan

May 30th, 2011 - 11:44 pm ICT by IANS  

Kolkata, May 30 (IANS) Haldia Petrochemicals Ltd (HPL) has outlined an ambitious plan of investing Rs.4,000 crore within the next four years, its vice chairman Purnendu Chatterjee said Monday.

“Investment will also be made in setting up three separate poly-parks, each being of 100 acres,” Chatterjee, who is also chairman of The Chatterjee Group (TCG), told reporters here.

Getting land for the projects would not be a problem as the West Bengal Industrial Development Corporation (WBIDC) informed that the land had already been in possession.

“HPL is launching its solution marketing initiatives with a view to enhance its competitive position in the eastern region and to increase West Bengal’s competitive advantage in the areas of agriculture, pisciculture and other related fields,” he said.

Informing that since inception HPL had facilitated setting up of 763 processing units and employing over 85,000 direct and 1,55,000 indirect employees, Chatterjee said: “The capability can further be accelerated through the creation of poly parks.”

Expressing his keenness to end the long-drawn legal battle regarding the management of HPL by going for an out-of-court settlement with the new Trinamool Congress-led state government, Chatterjee said: “Of course, we were having problems with the earlier government. Now all I can say that things have started moving and the new government is at least taking some actions.”

He, however, said any such out-of-court settlement would come up only after the Supreme Court delivered its verdict.

“We have told that since we have waited for so many years, we should wait for a few more weeks,” he said.

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