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Haldia Petrochemicals' shutdown hurting Indian plastics industry

8:59 AM MDT | August 6, 2014 | Natasha Alperowicz

The month-long shutdown of Haldia Petrochemicals’ manufacturing facilities at Haldia, India, is hurting the country’s plastics industry, according to the Indian Plastics Federation (IPF). Haldia, the only major producer of petrochemicals on India's east coast, has been at the center of an ownership battle for several years. In June, the West Bengal, India, government terminated a proposed sale of its stake in Haldia, informing Indian Oil Corp., the only bidder, of its decision. The government cited legal issues for cancelling the bid, paving the...

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