STOCK MARKET BSE NSE

Haldia top brass holds talks with EPS on Rs 50k crore venture

A few months ago, HPL filed a fresh bid for oil refinery of Nagarjuna Oil in Cuddalore district, a plant facing liquidation. Now, the  complex will be set up in the same location.

Published: 08th February 2020 05:42 AM  |   Last Updated: 08th February 2020 05:42 AM   |  A+A-

Officials of Haldia Petrochemicals Limited holding talks with Chief Minister Edappadi K Palaniswami at his residence in Chennai. | Express

By Express News Service

CHENNAI: Kolkata-based Haldia Petrochemicals Limited (HPL) which signed an agreement with the Tamil Nadu government in September last year for setting up its unit with an investment of Rs 50,000 crore, held preliminary talks with Chief Minister Edappadi K Palaniswami at his residence on Friday.  

A few months ago, HPL filed a fresh bid for oil refinery of Nagarjuna Oil in Cuddalore district, a plant facing liquidation. Now, the complex will be set up in the same location.

“It is not a refinery. A lot of subsidiary units will come up in the near future. Direct employment will be around 3,000 and indirect employment, more than a lakh,” official sources said. 

The HPL signed this agreement during Palanisami’s visit to New York last year. Recently, the State Cabinet cleared petrochemical refinery project in Thoothukudi district by Middle East-based Al Kharafi with an investment of Rs 49,000 crore. Purnendu Chatterjee, HPL Chairman, and Rabin Mukhopadhyay, executive vice-president, Strategic Initiatives and Projects of HPL, held discussions with Palaniswami. 

Industries Minister MC Sampath, Chief Secretary K Shanmugam, Industries Secretary N Muruganandam and Chief Minister’s Secretary M Saikumar were present.

Meanwhile, CEAT Tyres CFO  Kumar Subbaiah and V-P (Corporate Affairs) P Sundararajan called on the CM and invited him for the inauguration of radial tyre manufacturing unit scheduled for February 12 at Sriperumbudur.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp