Appointment of HPL's new MD not likely before Bengal polls
The appointment of new managing director of Haldia Petrochemicals (HPL) is likely to be finalised after the assembly elections in West Bengal.
"The current managing director Swapan Bhowmik is already on extension and it can be extended for some more time. Why new appointment is necessary before March 31," a top government official, not wishing to be named, said.
Bhowmik is slated to retire on March 31 and given the present situation with polls round the corner, the state government is unlikely to make any firm decision on the appointment.
The company was also finding it difficult to get a majority of its members to sit together and finalise the appointment.
The process of selection is already in progress for the last six months and two retired PSU heads Partha S Bhattacharyya of CIL and M B Lal from HPCL are vying for the post.
Having earned the praise for the successful IPO of the world's largest miner CIL, which turned out to be the biggest public offer till date, Bhattacharyya is TCG group's favourite
But, a section in the state government was not very comfortable with Bhattacharyya for his objection on behalf of CIL toward the Aerotropolis project in Burdwan though there was a solution agreed to by both CIL and the state government later.
Two other factors in favour of the ex-CIL chairman are his finance background and capability of handling industrial relations.
He, however, does not have any exposure to petroleum and petrochemicals sector, which Lal has.