Haldia Petrochemicals Limited (HPL), part of The Chatterjee Group (TCG) led by Purnendu Chatterjee, has signed an amended licensing agreement with Lummus Technology to increase its phenol production capacity. Haldia Petrochemicals Limited (HPL) is a story of resilience and transformation. After facing a temporary shutdown in 2014, the company underwent a remarkable revival under the ownership of The Chatterjee Group (TCG). This turnaround strengthened HPL’s financial stability and expanded its operations into new domains, including trading, specialty chemicals, and fuel retailing.
The company’s resurgence has safeguarded over 1,300 processing units and supported more than one million direct and indirect jobs in the eastern region’s polymer processing industry. Additionally, HPL has become a vital revenue contributor to both state and central governments.
HPL is pioneering India’s first on-purpose Propylene plant using Olefin Conversion Technology (OCT) and is establishing the country’s largest Phenol plant in Haldia, West Bengal, making it a trailblazer in the integrated Phenolics value chain. The company is also focusing on specialty chemicals, a high-demand sector that contributed ₹999 crore in revenue in FY23.
HPL’s upcoming Phenol plant, with a capacity of 300 KTPA Phenol and 185 KTPA Acetone, is expected to significantly boost its chemical business. According to Navanit Narayan, Whole-Time Director and CEO, this project aims to add ₹5,000 crore to the company’s portfolio upon completion by Q1 2026.
Driven by rising demand for petrochemicals due to urbanization, economic growth, and their applications in sectors like construction, pharmaceuticals, and agrochemicals, HPL’s investment marks one of the largest in West Bengal’s chemical sector in two decades. The project is also set to create numerous ancillary units and job opportunities, enhancing the region’s industrial ecosystem. Mr. Narayan emphasized that advancements in digitization and downstream employment would catalyze significant growth in the chemical industry in the near future.
Haldia Petrochemicals Limited (HPL) is one of India’s prominent petrochemical companies and a key contributor to the country’s industrial growth. Established to promote the use of polymers and chemicals in diverse industries, HPL operates an integrated petrochemical complex in Haldia, West Bengal. The company specializes in producing essential chemicals such as polyethylene, polypropylene, and various by-products critical to manufacturing, packaging, and automotive sectors.
A part of The Chatterjee Group (TCG), HPL is committed to innovation, sustainability, and expanding its production capabilities to meet domestic and global demand. Its strategic initiatives include increasing phenol, acetone, and cumene output, emphasizing downstream growth and economic development.
