Home / Knowledge / News / Textiles / Formosa may shut down No-2 olefin plant as per plan
Formosa may shut down No-2 olefin plant as per plan
02
Aug '10
According to reports, emanating from Taiwan "Economic Daily", Formosa Petrochemical Corp is planning to undertake maintenance shutdown of the No-2 olefin plant as per schedule.

This decision has been taken on the recommendation of the Labor Safety Inspection Unit and also despite the fact that the No-1 olefin plant is already shut down due to a fire which took place in the plant a few days ago.

The news has stimulated the spot price of Asian propylene to grow by US $30 per ton or about 3 percent, and has also helped drive the downstream derivatives market higher.

Ethylene, after being in a decline for the last 12 weeks, has now slowly stabilized and seems to be in the stages of a rebound.

The production capacity of the Formosa No-1 olefin plant is 700,000 tons of ethylene per annum and that of No-2 is 1.03 million tons of ethylene per year. The company had earlier decided to postpone the shutdown of the No-2 plant.

As the two ethylene production plants account for 60 percent of total ethylene production capacity of Formosa Petrochemical, suspension of production is bound to bring about ethylene shortage in the market.

Fibre2fashion News Desk

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search