Online BusinessHaldia Petro loses Rs 40 cr as strike enters day-4
Haldia Petrochemicals (HPL) has lost Rs 40 crore due to the indefinite strike called by workers over wage revision that entered its fourth day today.
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"We are losing Rs 10 crore each day due to the strike," a source in HPL told PTI.
The Centre of Indian Trade Unions (CITU) had called an indefinite strike demanding wage revision for the workers engaged by the contractors on an expansion project.
Sources said the project (Supermax expansion project), which involves increasing the naphtha cracking capacity, had already been delayed by more than a year, resulting in almost doubling of cost to Rs 1,230 crore.
Though the labour department of West Bengal has started conciliatory proceedings with the striking union, the contractors and HPL, no solution has been reached.
Sources in the labour commissioner"s office say that categorisation of workers (whether involved with the maintenance job) was the major stumbling block in the talks.
According to the source, if the strike continued for long, implementation of the project would get more delayed adding to the losses.
He said the company has already approached the CDR (corporate debt restructuring) cell for approval for additional bank finance of Rs 400 crore.