Haldia Petro owner acquires majority stake in MCC PTA India

Kolkata, July 27: The Chatterjee Group (TCG), owner of Haldia Petrochemicals, will take over the management control of MCC PTA India Corp (MCPI), for which it signedasharepurchaseagreementwithMCPI’sparentcompany, Mitsubishi Chemical Corporation (MCC), in Tokyo onWednesday.Thedecisionto transfer the controlling equity of MCC’s purified terephthalic acid (PTA)-manufacturing subsidiary in India to TCG was taken at the Mitsubishi Chemical Holdings Corporation’s (MCHC) board meeting on Wednesday. MCHC is the holding company of MCC; MCPI is a 100% subsidiaryof MCCformedin 1997 for production and sale of PTA from its Haldia plant.