The Hindu Business Line : Haldia Petrochem mulls expansion

Speaking to newspersons on the sidelines of a seminar on building competencies in the plastic industry sector, Mr S.K. Bhowmik, CEO, said that this was part of the company's plans to increase productivity and efficiency with minimum resources.

HPL currently has a capability of producing 5.2 lakh tonnes of ethylene annually.

Mr Bhowmik said that talks were on with the licensors for developing a computer simulation model to work out the nitty-gritty of the proposed expansion plan whose cost is estimated at Rs 500 crore.

HPL's licensors include ABB Lummus, Lurgi, BASF, Basell, IFP, and Mitsui.

On the proposed expansion, Mr Bhowmik said that the board's approval would be sought only after the management had a bankable project on its hands. Regarding the proposed IPO, Mr Bhowmik said that it was likely to take place only after the elections.

"We are aiming at an issue around May-June 2004. The company will go for the book-building route.''

The IPO is part of the fresh equity infusion of Rs 600 crore required under the CDR. On the gains from HPL's debt recast, he said that a saving of about 80 crore would be possible right away on account of lower interest rates.

More Stories on : Outlook | Petrochemicals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Petronet commercial operations from April

Cipla to ship AIDS drugs to Malaysia in 2 months

Goldstone Tech to hike authorised capital

Veronica Labs to launch ayurvedic AIDS drug soon

Ashok Leyland launches Ecomet LCV

Godrej Consumer seeks shareholders nod for buyback

Thomas Cook Q1 net profit up 24 pc

`Go slow' hits work at Chennai container terminal

Haldia Petrochem mulls expansion

Ford India upbeat on SUV segment

BiSS bags contracts in US market

Pfizer: Will 2004 erase bitter taste of 2003?

Thomas Cook board revamp