India’s HPL Expands Capacity

Haldia Petrochemicals Ltd. (HPL; Haldia, India) says it will invest about $200 million to expand ethylene capacity at Haldia from 520,000 m.t./year, to 670,000 m.t./year. The project is expected to be completed by April or May, 2008. HPL cites “growing demand, and the delay in capacity additions mainly in the Middle East, which has extended the up-cycle in the petrochemicals business.” All players in the petrochemical industry “are making good profits from their existing business operations, and HPL thought it prudent to quickly increase volumes...

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