TCG Group and Haldia Petrochemical Limited appoint B. Anand as CEO for their Greenfield Polymer Business and ESG Initiatives
Kolkata (West Bengal) [India], July 16 (ANI/NewsVoir): TCG Group, a knowledge based industrial collective of global repute and their flagship company Haldia Petrochemicals Limited along with Lummus Technology and TCG Digital, a global leader in developing and implementing process technologies and cutting edge digitalization and AI, today announced the appointment of B. Anand to head business of developing and implementing large scale polymer projects with sustainability focus including Oil to Polymer Complex (OToP) across India and globally.
In June 2020, TCG Group and Rhone Capital completed the joint acquisition of Lummus Technology. As a standalone entity, Lummus Technology continues to lead and shape the energy transition with breakthrough technologies and robust process solutions for the petrochemical, refining, gas processing and renewable markets. Through a collaborative approach between a licensing house and engineering contractors, TCG Group has developed an optimal configuration which improves capital efficiency besides wider feedstock flexibility, and robust Environmental, Social and Governance (ESG) standards for a petrochemical complex.
Anand will be responsible for building and driving TCG Group's portfolio of OToP projects which will include development along with design and licensing technology globally with their bespoke 'Design One and Build Many' business model. Under Anand's leadership, the company is soon launching its first petrochemical project in Cuddalore, Tamil Nadu in India, of international scale.
Anand will be taking over as CEO from September 2021. Prior to TCG Group, B. Anand was the Chief Executive Officer for Nayara Energy, driving growth and strategy for the business and successfully transforming the erstwhile Essar Oil into a new age downstream energy company.
Speaking on B. Anand's Appointment Dr. Purnendu Chatterjee, Founder and Chairman of TCG Group, "Anand has led transformation initiatives for many large-scale originations. Moreover, his understanding of the petrochemical business and vision to bring growth and synergy within the sector with best-in-class process technologies, sustainability initiatives and managing global stakeholders is something that we are aligned with and wish to drive together. We look forward to an exciting journey under his leadership."
Anand says, "I am excited to join the team at TCG Group. Their vision for the energy and petrochemical sector is focused towards delivering new-age, technology-based solutions in the sector contributing towards a sustainable future. With our first petrochemical project underway soon, the promise to bring cleaner and greener solutions to the Indian sector is encouraging."
Haldia Petrochemicals Ltd. or HPL was the first integrated petrochemicals complex situated in Haldia, 125 kms from Kolkata in West Bengal. With a state-of-the-art naphtha cracker complex constructed in a record time of 36 months, HPL started production in the year 2000. Continuous drive for improvement and optimization led to rapid growth of the company's capacity, reaching 700 KTA from 420 KTA in a short time. A flagship company of The Chatterjee Group (TCG) HPL along with an international partner Rhone Capital, has acquired the US-based Lummus Technology at an Enterprise Value (EV) of $ 2.725 Billion (approximately Rs. 20,590 crores) from McDermott International on the 30th of June, 2020.
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