Thursday, December 20, 2007

Haldia Petrochem to borrow US$50 mln to finance ongoing expansion

In a move to finance its ongoing expansion plans, Haldia Petrochemicals (HPL) plans to raise US$50 mln ( Rs 200 crore) through the external commercial borrowing (ECB) route. This will form part of the Rs 400 crore being raised via debt for the project. The project has been dubbed as Project Supermax, and will result in a capacity increase of 30% plant from 520,000 tons to 670,000 tons by October 2008.

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