Petronas shuts petrochemical plants
By FINTAN NG and LEE KIAN SEONG
KUALA LUMPUR: 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.
read further
here
