Duty on naphtha will hit Haldia Petro bottomline

The Union Budget proposal for re-imposition of five per cent import duty on naphtha for petrochemical production seems to have found its single largest casualty in West Bengal government-promoted Haldia Petrochemicals Ltd (HPL). HPL is reportedly the only major standalone petrochemical facility using naphtha as feedstock. The showpiece industrial project of the State Government estimates a Rs 300-crore hit on bottomline