Indonesia petchem firm TPPI declares force majeure

Indonesia's Trans Pacific Petrochemical Indotama (TPPI) has declared force majeure on its products due to a problem with port facilities, rendering them unsafe for navigation. Duration of the force majeure, declared on Monday evening, is undisclosed. Trading sources said deliveries of feedstocks condensate and naphtha, as well as loadings of petrochemical and oil products for sale had been stopped. TPPI's US$2.3 bn project was the first to get a government approval, and was approved in mid-1995, but its construction was stopped in late 1998. This was to be the country's first integrated olefins/aromatics JV. The complex is on a 2,420 acre site in Tuban, north of East Java.
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