Page 136 - CW E-Magazine (24-10-2023)

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DOWNSTREAM EXPANSION

Haldia Petrochemicals to invest Rs. 3,000-crore to

set up chemical units in Bengal

Haldia Petrochemicals Ltd. (HPL) to the topline,” Mr. Navnit Narayan,
has announced a Rs. 3,000-crore chemi- whole-time Director and Chief Execu-
cal downstream project, embarking on tive Offi cer of HPL, said. The company,
the most ambitious diversifi cation path now led by The Chatterjee Group
undertaken by the company in Bengal (TCG), is hoping that the chemical inter-
in more than a decade. mediaries would spawn downstream
units in the state, just as it did with poly-
HPL said it is setting up the fi rst mer. After it was set up as a joint ven-
on-purpose propylene plant in India- ture by the Bengal Government, TCG
based on Olefi n Conversion Techno- Haldia for the venture.The projects will and Tata Group in 2002, HPL has led to
logy (OCT) and the largest phenol in be fi nanced by a mix of debt and equity. a proliferation of polymer downstream
India at Haldia, West Bengal, becom- HPL has initiated talks with banks and units, large and small, in the state.
ing India’s fi rst integrated player in the fi nancial institutions to raise loans. The There are about 1,300 of such units in
phenolics chain. The phenol plant will equity component will be arranged by operation today.
have a production capacity of 300 kilo the company from internal accrual. The
tonnes per annum (ktpa) of phenol and scale of the project and proposed invest- “The project will generate direct and
185-ktpa of acetone, he said. ment suggest that it would be HPL’s big- indirect employment in the downstream
gest brownfi eld expansion after Project chemical industry. The total industrial
Phenol fi nds use in the manufacture Supermax which expanded the company’s scenario evolving around chemicals will
of resins, synthetic and nylon fi bre, while polymer-making capacity by 30 percent witness tremendous growth within a very
acetone acts as an industrial solvent. The in 2010. short period,” Mr. Narayan added. HPL
management has set an ambitious target is the largest petrochemical company
to complete the projects by the fi rst quar- “Our aim is to go down the path of in the east and one of the largest in
ter of 2026. HPL plans to use additional value addition. Once complete, the pro- India with a total capacity equivalent to
land available with it at the port town jects would add about Rs. 5,000-crore 7,00,000 tonnes of ethylene.

BUSINESS STRATEGY
Navin Fluorine brands CDMO business as ‘Navin

Molecular’

Navin Fluorine International Ltd. Molecular’s diverse expertise under three division has been providing chemistry
(NFIL), part of the Padmanabh Mafatlal core offerings: custom synthesis, contract services which encompass a wide range
Group, has unveiled a new identity manufacturing, and process & analytical of technologies. And, whilst direct
for its contract development and manu- development. “The new identity empha- fl uorination and other hazardous chemi-
facturing division. The new ‘Navin sises its broad experience in classical stries remain core competencies, we’ve
Molecular’ branding is “designed to small-molecule chemical development been working hard to integrate the full
meet the emerging need for reliable, and contract synthesis whilst maintain- range of our expertise into the portfolio.
fast, and cost-effective custom synthe- ing a link to the heritage and expertise in The creation of the Navin Molecular brand
sis and manufacturing services for the fl uorination of the parent company,” the is really the culmination of this work.”
pharmaceutical and speciality chemi- company informed in a press note. The business is supported by a global
cals industries,” the company said. commercial and technical team, ensuring
Commenting on the move, Mr. Rajendra customers in both Europe and the US
The rebranding is a key part of a cus- Kumar Sahu, Chief Executive of Navin have direct contacts in their own time
tomer-focused initiative to realign Navin Molecular said, “Since 2010 our CDMO zones.

136 Chemical Weekly October 24, 2023

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