Dhunseri Petrochem and Tea Limited is looking to more than double capacity of its petrochem operations in Haldia at a cost of Rs 370 crore.
At present, capacity of the Haldia plant is 2,00,000 tonnes. “Financial closure for the project has been achieved,” a company statement said. The process of obtaining clearances from concerned authorities was currently under progress.
The company is also hoping for better capacity utilisation in the current financial year vis-à-vis the previous. A captive power plant of 8MW was commissioned last year. A heater from Thermax is expected to bring down the fuel cost further.
The production of the petrochem division under erstwhile South Asian Petrochem Ltd (SAPL) had decreased from 1,92,655 tonnes in 2008-09 to 1,68,180 tonnes in 2009-10. The production was low on lower availability of raw material. Consequently, sales dipped.
SAPL was merged with the company with effect from April 1, 2009. The Calcutta High Court has approved a scheme of arrangement between Dhunseri Tea & Industries Limited (DTIL), D I Marketing Limited (DIML), SAPL and Dhunseri Polycarbonate Limited (DPL) and their respective shareholders for demerger of Jaipur Packet Factory and Investment Division (demerged undertaking) of DTIL to DIML and amalgamation of SAPL and DPL with DTIL from April 1, 2009. While the petrochem division suffered, the tea division, in contrast, registered its highest ever production to 10.4 million kg. Revenues increased by 23 per cent to Rs 129.75 crore.
The company has projected a saftisfactory outlook for the coming year.
