06 February 2009 15:18 [Source: ICIS news]
NEW DELHI (ICIS news)--India's Reliance Industries has restarted its polypropylene (PP) plants at Nagothane, in Maharashtra state, and at Vadodara, in Gujarat state, following unscheduled shutdowns, a source close to the company said on Friday.
“The Nagothane plant was shut down three weeks ago due to technical reasons, while the Vadodara plant was taken off line in mid-Jan[uary] in an effort in cost management,” said the source.
The source was speaking on the sidelines of PlastIndia 2009, ?xml:namespace>
The 150,000 tonne/year plant at Nagothane produces only homopolymer grades, while the 30,000 tonne/year unit at Vadodara produces co-polymer grades.
Traders said the shutdowns led to uncertainty in the market, as converters were looking to restock.
The surge in buying activity prompted Indian producers to hike PP prices by 4%, or rupees (Rs) 2/kg (4 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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