Yet another project appears to be fallen through. This time it is Chennai Petroleum Corp’s (CPCL) refining and petrochemicals venture at Ennore in Tamil Nadu. Indian Oil Corp’s (IOC) chairman Sarthuk Behuria said in a press conference yesterday that the project may never come up as the country already had surplus refining capacity. CPCL is […]
Tag Archives | Haldia
I was under the impression that there are no major hurdles to Indian Oil Corp’s (IOC) refinery and petrochemical project at Paradip. But I came across this news yesterday that the viability of the project is in question following the government’s decision to withdraw a tax holiday from 1 April 2009. The project has been […]
There is one more paraxylene (PX) plant being planned in India and it is Indian Oil Corp (IOC) again. IOC is said to be studying a plant next to its refinery in Vadodara, Gujarat and has received preliminary approval from its board. There are no details yet on capacity and timing of the project. IOC […]
I have found the answer to my question in last week’s posting on the proposed chemical hub at Nayachar, West Bengal. I had wondered which public sector company would be targeted by the West Bengal government for investment at Nayachar. According to The Telegraph, Indian Oil Corp (IOC) has been invited to set up shop. […]
Despite India’s stellar economic performance there are signs that the country’s polyolefin surplus will not disappear very soon. In a presentation at last week’s Asian Chemical and Petrochemical Conference, Raj Datta of Haldia Petrochemicals Ltd drew out three scenarios. In the first case, India would have a surplus of 2m tonnes of polyethylene (PE) and […]
It is a story with enough twists and turns to put a Bollywood film to shame. Haldia Petrochemicals’ creditors have now filed a case in the Calcutta High Court protesting against an order passed by the Company Law Board (CLB) for transfer of the West Bengal government’s stake to The Chatterjee Group.