Home / Knowledge / News / Textiles / Haldia Petrochem seeks Rs 1bn loan from West Bengal govt
Haldia Petrochem seeks Rs 1bn loan from West Bengal govt
16
Apr '13
Financially troubled petrochemical major Haldia Petrochemicals (HPL) has applied for Rs. 1 billion loan from the West Bengal state government, Business Line reported quoting PTI.
 
Speaking on the sidelines of his meeting with Japanese Ambassador Takeshi Yagi, HPL Chairman and Industry Minister Parth Chatterjee said the proposal to extend Rs. 1 billion assistance to HPL has been approved by the Group of Ministers, who have assured to take the matter further when Finance Minister Amit Mitra resumes charge.
 
The company, having the state-run nodal agency - The West Bengal Industry Development Corporation (WBIDC) - as its co-promoter, is enduring substantial shortage of working capital and has defaulted in loan repayments.
 
At present, lenders are not willing to extend any further funds to the ailing firm, until there is new equity infusion by promoters.
 
Once approved, the loan would be extended to HPL through WBIDC.
 
Meanwhile, Delloite, which has been hired as a transaction adviser, is yet to submit its report regarding disinvestment in the firm as sought by the state government.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Top executives
Textile & apparel bodies

The decision is transformational

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search