Haldia Petrochemicals Ltd. has signed an agreement with QatarEnergy, ensuring a steady supply of naphtha for the coming decade.
The agreement specifies that QatarEnergy will supply HPL with up to two million tons of naphtha over 10 years, starting from the second quarter of 2024, through its Singapore-based subsidiary, HPL Global Pte Ltd. The deal value wasn't disclosed.
"It (the deal) reinforces Qatar's dedication to contributing to India's economic expansion," Saad Sherida Al-Kaabi, the minister of state for energy affairs and president and CEO of QatarEnergy, said in a statement.
He also highlighted Qatar's role as a dependable energy provider to India, noting the joint efforts with strategic petrochemical end-users like HPL to satisfy the region's growing energy needs.
Purnendu Chatterjee, HPL chairman, said the agreement bolsters the longstanding partnership with QatarEnergy.
HPL stands as one of India's largest petrochemical companies, boasting an annual ethylene production capacity of 700,000 tons. The company has adopted process technologies from premier licensors to manufacture top-tier products, keeping safety and environmental sustainability at the forefront.
(With Inputs From PTI)
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