HPL imports naphtha to reduce dependence

Kolkata: Haldia Petrochemicals Ltd (HPL) has increased it naphtha import to reduce dependence on Indian Oil Corporation (IOC) for supplies. HPL has reduced its dependence on IOC to just 16 per cent of its total naphtha requirement. HPLs monthly requirement of naphtha is around 1-1.25 lakh tonnes.

This reduced off-take comes in the wake of protracted negotiations between the two companies with talks of the oil public sector unit taking over the management control and buying into HPLs equity, yielding no result so far.