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Nippon Oil shuts down second Paraxylene plant
19
Nov '08
Nippon Oil Corp has announced on Tuesday that it plans to suspend operations at its 420,000 tons per year Paraxylene plant at its refinery in Oita by the month end due to slowdown in demand and poor margins.

Earlier the company had announced closure of its Paraxylene unit in Mizushima along with a 110,000 barrels per day crude distillation unit at the same place.

Fibre2fashion spoke to a company official at Nippon Oil who confirmed the closure of the Paraxylene unit at Oita as well as Mizushima due to poor economics and shrinking demand for the raw material

This trend of closures or maintenance shutdowns or curbing capacities has been going in the far eastern countries, more particularly in Japan since the last few months on back of a decline in demand.

Fibre2fashion News Desk - India


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