Haldia Petrochemicals (HPL) will invest Rs 3,000 crore to set up new chemical plants in West Bengal. This includes the first on-purpose propylene plant and a phenol unit which will come up at its existing manufacturing facility at Haldia.

The phenol plant will have a production capacity of 300 kilo tonne per annum (ktpa) of phenol and 185 ktpa of acetone. The propylene plant will be based on olefin conversion technology (OCT). Both the projects are expected to be completed by Q1/2026.

With the commissioning of these plants, the overall chemical business portfolio is expected to increase by an additional Rs 5,000 crore.

The proposed investment could well be the largest in West Bengal in the chemical sector in the last two decades. It has also led to an increase in the number of ancillary units, and is expected to generate employment in the downstream chemical industry.

The company earned a revenue of Rs 999 crore from speciality chemicals in the last financial year.