Wednesday, October 14, 2009

Additional bank finance required to fund Haldia Petrochem’s expansion project approved

Haldia Petrochemicals Ltd’s Supermanx project expansion cost that was initially pegged at Rs 675 crore has almost doubled to Rs 1,230 crore due to a time overrun. HPL’s consortium of lender banks had earlier agreed to provide a debt of Rs 600 crore, while the company contributed Rs 230 crore from internal accruals.

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