Haldia Petrochemicals has revealed its plans to invest Rs800 crore to expand its ethylene production capacity from 523,000 tons to 670,000 tons, by April 2008.
This will further help increase polymer capacity to 1 million tons from 780,000 tons.
MD Swapan Bhowmik told the media, “We are planning to increase our capacity in ethylene, propylene, butadine and other polymer chemicals by about 30 percent by April next year.”
Bhowmik believes that ethylene capacity is expected to rise to 157 million tons by 2010 from 116 million tons in 2005.
“Demand for petrochemical products in the domestic market is growing, and to fulfill this we need at least 8-9 more petrochemical units by 2010 with a total capacity of 13 million tons per year,” he said.
He also informed that the funds for this venture will be through internal accruals and also hinted on the three new project of the company.
marketing@alchempro.com
