Purnendu Chatterjee says polycarbonate and other chemical plants could deepen local manufacturing, while TCG explores data centres and a long-term capital fund for Bengal
Our Special Correspondent Published 15.10.26, 07:42 AM
Purnendu Chatterjee File picture
The Chatterjee Group (TCG), led by Purnendu Chatterjee, has signalled fresh investments of ₹10,000 crore in downstream chemical units at Haldia as it plans to develop a speciality chemicals business in Bengal.
The chemical value chain will be anchored by TCG flagship Haldia Petrochemicals Ltd (HPL) and its subsidiary Adperma.
Adperma’s phenol and acetone plant in Haldia was inaugurated on Thursday by chief minister Suvendu Adhikari in the presence of Chatterjee and members of the council of ministers.
In his address, Chatterjee said TCG would like to build on its existing operations. Later, he elaborated on plans to develop a speciality chemicals business using products from HPL and Adperma, a segment that is practically non-existent in India.
“There are many more materials which we can value add. We can do polycarbonate – no plant in India. Fully imported. We can do that and MMA,” Purnendu Chatterjee said.
He added that the polycarbonate and MMA units could entail investments of ₹10,000 crore.
Earlier, Chatterjee called for investments in deep tech, describing it as a field driven purely by scientific innovation.
“Interestingly, deep tech is where all the money is going. The big profit pool is there in deep tech in AI, in data centres. If we don’t do this, we will not participate in that profit pool,” he said, identifying robotics and quantum as areas of focus.
Later, he said TCG could explore setting up a data centre in Haldia or Calcutta, provided suitable land was available.
Chatterjee also called for a master plan for 2047 and the creation of a permanent capital fund to finance these activities.
“I want to work with the new administration when making this permanent capital fund. We have the ability to create a sovereign wealth fund for Bengal for the growth of the next 20 years and beyond,” Chatterjee said.
Recalling his and HPL’s journey over the past 30 years, he described it as a "trial by fire".
“It was the then chief minister Jyoti Basu and my mother who urged me to take up the petrochemical complex (HPL),” he said.
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