Thursday, December 04, 2008

Petronas shuts petrochemical plants

Petroliam Nasional Bhd (Petronas) has shut down indefinitely several petrochemical plants in Kertih, Terengganu and Gebeng, Pahang as demand for polymers fell sharply due to a slump in overseas factory orders.

Chairman and chief executive officer Tan Sri Hassan Merican said the materials were used to produce consumer goods and hence would be the first to get hit in a global slump.

“Resins are stocking up at Kertih due to lack of demand. When there’s no market for polymers or resins, there is no point producing,” he said. He did not give a timeframe when production would resume.

Petronas shuts petrochemical plants
Malaysia Star, Malaysia