Haldia Petrochemicals Ltd (HPL) plans to invest Rs 3,000 crore in new West Bengal units. It plans to construct the first on-purpose propylene plant and a phenol unit at its current Haldia production site, with both projects slated to be finished by the first quarter of 2026. The phenol plant will have a production capacity of 300 kilotonnes per annum of phenol and 185 KTPA of acetone, he said.

"With the commissioning of these plants, the overall chemical business portfolio will be increased by Rs. 5,000 crore". "The company has ambitious goals of completing the project by the first quarter of 2026", stated 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 specialty chemicals during the last 2022-23 fiscal. The proposed investment will likely be the largest in West Bengal in the chemical sector over the last two decades and has also led to an increase in the number of ancillary units, said HPL.