Haldia Petrochemicals Limited to invest Rs 5K cr in Bengal to set up Phenol & Acetone plant

Kolkata: Reaffirming its commitment to transform West Bengal’s industrial landscape, Haldia Petrochemicals Limited (HPL) is investing Rs 5,000 crore to establish India’s largest Phenol & Acetone plant which is expected to generate employment in the state.

At a pivotal industry event, HPL showcased the significant opportunities in the state’s polymer and plastics sector, emphasising its contributions to job creation, economic advancement and infrastructure development. An issued statement read: “With West Bengal’s GDP exceeding Rs 20 lakh crore (USD 230 billion) and a robust growth rate of nearly 12 per cent, the state represents a flourishing market for polymer consumption. However, the per capita plastic consumption in West Bengal is currently at 9 kg, well below the national average of 15 kg, highlighting a considerable growth potential.”

“HPL has been instrumental in cultivating a strong polymer ecosystem in Bengal. Our investments and support have empowered over 1,000 downstream units, creating employment opportunities for over 6 lakh individuals. With our Rs 5000 crore investment in India’s largest Phenol & Acetone plant, we are strengthening Bengal’s industrial base and unlocking new opportunities for downstream industries across the region.

This will drive economic growth, enhance self-sufficiency in key raw materials and position Bengal as a major hub for the polymer and chemicals industry,” said Navanit Narayan, CEO, Haldia Petrochemicals Limited.

On future opportunities, the statement read that HPL identified several high-potential areas where the polymer industry can make notable contributions. In agriculture, storage and transportation of produce through innovative packaging solutions can be improved while in the healthcare sector, local manufacturing of essential plastic medical devices such as syringes, IV bottles and catheters can be established.