Formosa Plastics plans base oils unit start-up

15 July 2008 10:44  [Source: ICIS news]

SINGAPORE (ICIS news)--Formosa Plastics Corp (FPC) expects to begin production at its 520,000 tonne/year group II/III baseoils facility in Taiwan by March 2009, a company source said on Tuesday.

The plant was likely to be mechanically complete by November or December this year, the source said, adding that commercial output could be available from the second quarter of 2009.

Asian baseoils supply continues to be tight due to lower output at regional and global refineries as many refineries maximised gasoil and fuel output at the cost of baseoils.

Several buyers said that the start-up of new production capacity would bring a downward correction in regional prices from the current record highs.

Solvent neutral and group II neutrals were priced at $1,400-1,550/tonne CFR (cost and freight) Asia on Tuesday according to global chemical intelligence service, ICIS pricing.

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By: Anu Agarwal
+65 6780 4359

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