IOC to shut down PX by weekend, PTA by Sept third week

07 September 2010 07:28  [Source: ICIS news]

MUMBAI (ICIS)--Indian Oil Corp (IOC) will shut down its 360,000 tonne/year paraxylene (PX) plant by this weekend and its 550,000 tonne/year purified terephthalic acid (PTA) line at Panipat, Haryana state, by the third week of September for maintenance, a company source said on Tuesday.

The PX plant would remain shut for 55 days while the PTA plant would be restarted after a month, the source added.

“We have built up some PX stocks and also imported some material. We plan to procure additional PX parcels later,” the source said.

After restarting, the PTA plant would use the imported PX until the PX line resumed operations, he added.

“Until the PX plant restarts, we will run the PTA line at a slightly lower capacity. We have already informed our customers about these developments,” the source added.

The turnaround was originally scheduled for mid-April, but IOC decided to postpone it due to favourable market conditions.

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By: Priya Jestin

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