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Reliance Interested in Buying Haldia Petrochemicals

11:57 AM MDT | October 7, 2011 | —natasha alperowicz

Reliance Industries, India’s largest private-sector company and the country’s dominant petrochemicals player, is interested in buying a controlling stake in Haldia Petrochemicals Ltd. (HPL; Kolkata, India) when the state government of West Bengal, which holds a 51.76% stake in HPL, puts its share up for sale. Other HPL shareholders include the Chatterjee Group with 36.45%, Indian Oil (New Delhi) with 8.19%, and the Tata Group (Mumbai) with 2.46%. HPL is India’s second-largest producer of petrochemicals and the only one located on the...

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