20 February 2013 07:42 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Luoyang Petrochemical has reduced the operating rate of its new 140,000 tonne/year polypropylene (PP) unit at Luoyang, Henan province, to 75% after the Lunar New Year holiday because of feedstock issues, a company source said on Wednesday.
The new plant is producing yarn-grade PP since its start-up on 4 February 2013, the source added.
Prior to the holiday, the company had been operating the new unit at full capacity since the start-up, according to ICIS data.
However, the source declined to disclose further the specific reason for the rate cut.
Construction of the new PP unit, with an investment of yuan (CNY) 568m ($91m), started from April 2011 and it was completed in November 2012, the company said.
($1 = CNY6.25)
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