India's Reliance restarts Gandhar HDPE after two-week outage

06 February 2009 14:05  [Source: ICIS news]

NEW DELHI (ICIS news)--Reliance Industries has restarted its 150,000 tonne/year high-density polyethylene (HDPE) plant at Gandhar, in the Indian state of Gujarat, after a two-week outage, a source close to the company said on Friday.

"Although it's a small plant, the shutdown has created a bit of panic in the market because buying activity has picked up quite strongly in the past two weeks," said the source, speaking on the sidelines of  PlastIndia 2009, India's largest plastics exhibition and conference.

The plant was shut down two weeks ago due to technical reasons, a second source said.

The surge in buying activity prompted Indian producers to hike PE prices by 6% or Indian rupees (Rs) 3-3.5/kg (6-7 cents/kg) this week.  

PlastIndia 2009, which is held every three years, started on 4 February and ends on 9 February.

($1 = Rs48.71)

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By: Prema Viswanathan
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