03 June 2011 08:20 [Source: ICIS news]
SINGAPORE (ICIS)--State-owned Indian Oil is running its polyethylene (PE) and polypropylene (PP) facilities at Panipat at reduced rates as the company’s upstream naphtha cracker has been shut down for a brief maintenance, a company source said on Friday.
Indian Oil is operating its 600,000 tonne/year PP unit and 650,000 tonne/year high density PE (HDPE)/linear low density PE (LLDPE) plants at 70%, the source said.
“The demand in the local PE and PP downstream sector is still looking bad and prices are on a downtrend. We have to reduce our operating rates as a result to prevent a build-up in inventories,” the source added.
($1 = Rs44.8)
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