Egypt's OPC to shut PP unit in second-half May

12 May 2011 11:28  [Source: ICIS news]

SINGAPORE (ICIS)--Egypt's Oriental Petrochemicals Co (OPC) plans to shut its polypropylene (PP) facility in the second half of May, a company source said on Thursday.

OPC’s 160,000 tonne/year PP unit is located at the industrial zone in the northwest Gulf of Suez.

The company, which is Egypt’s sole PP producer, did not specify the exact date, duration and the reason for the shutdown.

“The plant should be shut from 21 May,” a local market participant said, adding that the reason for the turnaround was because of a lack of upstream propylene.

Meanwhile, OPC is still running the plant at 80% on the back of a shortage of propylene. OPC sources propylene primarily from Libya.

Local PP supply is expected to tighten further, local market participants said.

OPC announced a $50/tonne (€35/tonne) increase of PP in the domestic market, equivalent to about Egyptian pound (£E) 300/tonne ($51/tonne) increment on PP raffia to £E12,600/tonne ex-factory, including a 10% tax.

Additional reporting by Nel Weddle and Stephanie Wilson

($1 = €0.70, $1 = £E5.94)

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By: Ong Sheau Ling
+65 6780 4359

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