HPL shutdown paves way for other petro majors

The shutdown of Haldia Petrochemicals Ltd (HPL) has paved the way for other giants in the sector to tap polymer market in the eastern region held by the region's petro major.

"We are unable to tap the eastern market though HPL plant is dry. Our plant is likely to commence operations next year.

We are creating awarness about products in this part of the country," ONGC Petro Additions Ltd (OPaL) head polymer M Sanath Kumar said here on Saturday.

According to industry estimates, HPL had a marketshare of 12 per cent in the polymer industry of the country with strong presence in eastern region. The plant is closed since July.

Indian Oil senior manager Sumit Basu, speaking at the Polycon India 2014, said the company was expanding its capacity in petrochemicals at Paradeep to tap the growing demand.