statesman news service
Kolkata, 6 January
State industries minister Amit Mitra today said that he has asked banks to provide a Rs-60 crore loan for the revival of the Haldia Petrochemical Limited (HPL).
This was the first meeting with HPL authorities after Mr Mitra became the state industries minister and chairman of HPL.
After the meeting, he said the state government has already given its share of the Rs 100 crore loan for the revival of HPL and bankers have given a Rs 340 crore loan till date, and they have assured that the remaining Rs 60 crore loan will be given within a short period of time. The State Bank of India has given a Rs 115 crore loan and the government has urged other bankers’ consortiums to pay the remaining amount as early as possible.
Mr Mitra added that the bankers have assured the government that they will convene a board meeting soon to discuss how fast the loan could be given to them. The managing directors of most of the banks and the additional chief secretary of the state industries department were also present at the meeting.
He added that the process of issuing rights shares for the purpose of additional capital infusion at HPL is still on. According to Mr Mitra, once the money is raised it would be possible to prevent the company from being referred to the Board for Industrial & Financial Reconstruction (BIFR).
Meanwhile, the position of the HPL plant at Haldia has become extremely critical that it is currently running at 50% of the capacity.