RumourSSESSMENTS: Indian Producers Shut PE, PP Plants Amid Nationwide Lockdown

As the number of infections increases, the Indian government imposed a nationwide lockdown from March 24 until April 14 in a bid to combat the spread of COVID-19. Market talks have it that several Indian producers have been forced to shut down their plants following the nationwide lockdown.

Market talks have it that Indian Oil Corporation Ltd (IOCL) has shut its two polypropylene (PP) units located in Paradip, India. Each plabnt has a production capacity of 340,000 tons/year. Similarly, Mangalore Refinery and Petrochemicals Ltd (MRPL) has shut its PP plant located in Mangalore, Karnataka. The plant has a production capacity of 440,000 tons/year. Meanwhile, GAIL India Ltd has shut its two high-density polyethylene (HDPE) units located in Pata, India, with a production capacity of 100,000 tons/year each.

RumourSSESSMENTS are the stories and information that market players heard and asked SSESSMENTS’ Team to Verify. Often, this information is correct, and sometimes incorrect, something we conclude after the full verification process. However, while waiting for the complete verification process to complete, we wish our customers to be aware of all the stories and rumours in the market. The status for all RumourSSESSMENTS will be updated upon verification process, when the regular SSESSMENTS sections will be updated with the verified information as well.

Tags: Asia Pacific,English,ISC,India,PE,PP,Rumour