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Haldia Petrochemicals Will Shutter Entire Complex for About Two Weeks

4:40 AM MDT | July 7, 2011 | Natasha Alperowicz

Haldia Petrochemicals Ltd. (HPL; Kolkata, India), the only petrochemicals producer on India’s east coast, will shut down its entire complex at Haldia, India for a period of about two weeks starting in the third week of July. The company is facing some technical issues but it is also reducing production during a dip in petrochemical markets. “The petrochemical industry is passing through a little tough patch, and that is putting a squeeze on margins, but in addition to that, there are some important technical issues that we need to address,”...

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