Haldia Petrochemicals
A mention of Haldia would be incomplete without mentioning the industries and companies operating from this place. One of the major companies that is contributing immensely to the economy and development of this place is the Haldia Petrochemicals. Halida Petrochemicals Ltd is the second largest petrochemical company in India. It came into existence following the initiative of the West Bengal Government, wherein a joint venture was formed between big conglomerates like Tata Group, Indian Oil Corporation and the Chatterjee Group.
The total investment in the venture is pegged at Rs 5864 crores. It was set up in 1994 and started commercial production in the year 2001. It has acted as an engine of growth for the region and has spurred the growth of other associated industries thereby providing employment opportunities to a large number of people.
It is involved in the production of polymers and chemicals and has a total capacity close to 7 Lacs TPA of ethylene. It has markets for its products in India as well as a wide ranging product portfolio for international markets. The major exports of its products are in African and European markets.
It has a naphtha cracker unit and other units which are involved in the production of following products:
- Polypropylene
- High Density Polyethylene
- Linear Low Density Polyethylene
- Cyclopentane
- Benzene
- Motor Spirit
Synopsis of Haldia Petrochemicals
The Haldia Petrochemicals was dong financially well in the preceding years. The net worth of the company was Rs 25,116 million at the end of financial year 2008-2009. But, due to economic slowdown, the gloomy market scenario and the resultant reduction in the demand of petrochemical products, the financial position is not very encouraging at present and the company is undergoing some tough tests. The net worth of the company as at March 2013 was Rs 5188 million.The focus on Health, Safety and Environment
Haldia Petrochemical lays a lot of emphasis on the issues of health, safety and environment. A lot of efforts are taken to adhere to all the norms and compliance applicable to the industry. It has been certified by some renowned associations in the field of Health and safety. It has also been ranked first for its Safety Management in 2001-02 by CII. Additionally, it was ranked first for environment and safety management by Indian Chamber of Commerce in 2002-03.Giving Back to Society
One of the marks of greatness and responsible corporate governance is the way in which companies try to give back to society. Haldia Petrochemical works commendably in the field of Corporate Social Responsibility to sustain a harmonious relationship with the people and society around it. The bedrock of any social initiative revolves around th pillar of education, health and environment and HPL works amazingly well towards these causes. It is actively engaged in environment awareness and protection, educational initiatives, health and community welfare, skill development and working towards the betterment of life of displaced people.The company provides financial assistance to schools and distributes scholarships to deserving and needy students. Various health initiatives such as blood donation camps and health check ups are organized from time to time.
Contact Haldia Petrochemicals:
Corporate Office- Haldia Petrochemicals Ltd1, Auckland Place, Kolkata- 700017
Contact No- 033-22802390
Plant:P O Box No 12
Dist Purba Medinipur- 721602
Contact No- 3224-274007
A huge conglomerate with great promise which has contributed towards the development of the region and the upliftment of its inhabitants HPL has fallen back on the financial front. Coping with the present economic scenario is the major challenge it faces at this moment.