‘Mamata government open to solving Haldia Petrochemicals’ problems’

May 28th, 2011 - 9:48 pm ICT by IANS  

Kolkata, May 28 (IANS) The Trinamool Congress-led government in West Bengal is open to solve the current financial problems of the Haldia Petrochemicals Ltd (HPL), a key promoter of the project said Saturday.

Speaking after a meeting with state Industry Minister Partha Chatterjee here, promoter Chatterjee Group chairman Purnendu Chatterjee said: “There is openness, collaboration and goodwill to solve the problem of the Haldia Petrochemicals’ current financial difficulty. So I think we will be able to resolve this and take things forward.”

“I think we are having a new beginning. We requested that we will do some additional projects there. We have some ideas on that. We are working on this for sometimes. I think on the basis of strong foundations, a lot of growth initiative could be put together. And those also create jobs,” he said.

The meeting was the first after the change of guard in the state. Chatterjee and the erstwhile Left Front government, led by the Communist Party of India-Marxist (CPI-M), had an uneasy relationship over the ownership of HPL and the control of its management.

To a question whether HPL needs new investment, Purnendu Chatterjee said: “If funds are required, we will look into that. I don’t think new equity funds will be required. I think there are enough equity funds in HPL already. There is a mismatch and timing problem. Those will be worked out.”

On the new projects in HPL, he said there were eight projects the company had identified and these would be implemented once HPL is on stable footing. “There will be no land required for these projects. We have enough land,” he added.

The dispute over management control in HPL is pending judgment in the Supreme Court.

Asked if there is any possibility of out-of-court settlement of management issue after the change in government, Chatterjee said: “It is a sub-judice matter, we are waiting judgment. I am not sure how the government will look at the question of outside settlement. From my point of view, a quick settlement is good, because we can then move on.

“Having waited for almost six years, another two months will not make a big difference. But whatever happens, we will be working together. But the important thing is there is openness,” he added.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |