USD 10 billion investment planned by Haldia Petrochemicals
Renowned petroleum sector firm Haldia Petrochemicals (HPL) has plans to invest USD 10 billion to set up an oil-to-chemicals (O2C) project in Tamil Nadu. The new project will convert crude oil directly into chemicals to meet the growing demand for polymers.
Once completed the project will have the capacity to make 3.5 million tonnes of ethylene and propylene, used in shopping bags, car parts, and water pipes, among others.
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