Haldia Petrochemicals to invest 4,000 crore

However, he indicated that clarity on ownership structure in HPL would be important for raising resources for these projects. It may be noted that the state government and TCG are caught in a legal wrangle for the management control of HPL since 2005. Chatterjee, who jointly met the media with managing director Partha S Bhattacharyya, said he is getting positive vibes from the new state government.

Elaborating on the plan for new projects, Chatterjee added that the debt-to-equity ratio for the new projects would be 1.5:1. "The equity will come from HPL reserve and technical partners. If we require some more, then HPL can induct some private equity players. Later, we can buy back their shares," he added.