Formosa Plastics plans next week restart for PP plant at Ningbo

12-Nov-08

Formosa Plastics has planned to restart, by next week, its 450,000 tpa polypropylene plant shut since mid-October. The plant, located at Ningbo, China, was shut as the petrochem major faced problems of meager demand in the region coupled with huge stockpiles. As the company waited to dispose off its huge stockpiles in a deteriorating demand condition, it faced an additional problem of disposal/stocking freshly produced material, hence a decision was reached to shut the plant.