Haldia Petrochemicals Nears Launch of Rs 6,000 Crore Chemicals Plant, Names New MD

Haldia Petrochemicals is approaching the inauguration of a major downstream chemicals complex in October 2026, a Rs 6,000 crore project that will include India's first on-purpose propylene unit and the country's largest phenol plant. The company also announced two leadership appointments, naming Navanit Narayan as Managing Director and Kaushik Sarkar as Executive Vice President and Chief Financial Officer.

Rs 6,000 Crore Phenol and Acetone Complex Set for October Inauguration

Haldia Petrochemicals is preparing to inaugurate a Rs 6,000 crore phenol and acetone manufacturing complex in Haldia, West Bengal, with the launch slated for October 2026. The project is housed under Adplus Polymers and Chemicals, a subsidiary of Haldia Petrochemicals. It is notable for including India's first on-purpose propylene unit based on olefin conversion technology, as well as the country's largest phenol plant. Phenol is widely used in resins, laminates, adhesives and pharmaceuticals, while acetone feeds solvents, coatings and downstream manufacturing chains. The plant's inauguration is expected to deepen West Bengal's petrochemicals base and reduce domestic dependence on imports in a segment historically served by a limited supplier pool. The scale of the investment positions Haldia as a significant production hub for industrial chemicals in India. The project was described as a strategic downstream expansion beyond Haldia Petrochemicals' existing ethylene and polymer operations, designed to capture more value from the chemicals supply chain. West Bengal's Chief Minister was noted to have engaged with the project's development at a state level, reflecting the importance of the investment to the state's industrial outlook and its ambition to build on Haldia's existing standing as a major petrochemical centre. [3]

Kaushik Sarkar Appointed EVP and Chief Financial Officer

Haldia Petrochemicals has appointed Kaushik Sarkar as Executive Vice President and Chief Financial Officer, bringing more than 19 years of professional experience across polymer sales, commercial operations and regional business management in India. Sarkar joined Haldia Petrochemicals in 2019 as Senior Manager and was elevated to Chief Manager, Marketing, in April 2023. In those roles he carried responsibility for polymer sales across the eastern region, covering products including polypropylene and polyethylene, with duties spanning sales planning, market development and customer management. Prior to joining Haldia Petrochemicals, Sarkar spent more than seven years at Reliance Industries in managerial and regional product leadership roles, working across polypropylene, polyethylene and polyvinyl chloride product lines. The appointment marks a move from a commercial sales background into senior financial leadership at one of West Bengal's most significant petrochemical companies. Haldia Petrochemicals is a major producer of polymers at the Haldia industrial complex and is a key employer and economic anchor in the region. The company noted that Sarkar's deep familiarity with its commercial operations and regional markets was relevant to his new responsibilities overseeing the company's finance function. [1]

Navanit Narayan Named Managing Director in Executive Reshuffle

Haldia Petrochemicals made two senior leadership appointments as of October 1, 2026, according to Indian Chemical News. Navanit Narayan, who had been serving as Whole-time Director and Chief Executive Officer of Haldia Petrochemicals Limited, was appointed Managing Director of the company, formalising his leadership at the most senior executive level. The appointment elevates Narayan to the MD position after his period as CEO, consolidating his authority over the company's strategic direction and operations. Separately, Kaushik Sarkar was confirmed as Chief Financial Officer, placing him in a senior finance role. The dual appointments were reported as part of a reshaping of the company's executive structure. Haldia Petrochemicals is one of the largest petrochemical producers in eastern India, based at the Haldia industrial cluster in West Bengal, and its leadership changes carry significance for the broader chemicals sector in the state. The company has been associated with major expansion projects including downstream chemicals processing. The timing of the appointments, shortly before the planned inauguration of the phenol and acetone plant, suggests a deliberate alignment of the company's governance structure with its next phase of growth. [10]

Sources: [3] Indiatimes · [1] TradingView · [10] Indian Chemical News