15 October 2009 17:48 [Source: ICIS news]
Oltchim deputy CEO Radu Olaru presented figures at an industry conference showing that this year would see only a slight improvement on 2008, when 35.8m tonnes of the worldwide PVC effective capacity (95% of nameplate capacity) of 48.8m tonnes was consumed.
However, the situation would gradually improve after 2015 and the world could be forced to deal with a PVC production shortfall, he told the World Refining Association's annual CEE Refining and Petrochemicals Conference,
Under a recovery plan backed with Romanian state loan guarantees, Oltchim plans to spend €55.3m ($82.7m) on revamping its 450,000 tonne/year PVC plant.
It is currently abandoned because no ethylene feedstock is arriving from the closed Arpechim steam cracker owned by Romania's Petrom. Under the plan, Oltchim also intends to acquire the cracker and restart it.
In addition, Olaru's figures showed that the world may face caustic soda and polyether polyol shortfalls by the second half of the next decade.
($1 = €0.67)
To discuss issues facing the chemical industry visit ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|