Andhra Petrochemicals Ltd, the only producer of oxo alcohols in India, has decided to temporarily shut down its Visakhapatnam plant in the face of increasing low-cost imports into the country. Andhra Petrochemicals has informed BSE that the company’s plant at Visakhapatnam has been shut down from May 26, 2014 due to cheaper imports of oxo alcohols. It added, “This appears to be a passing phase and operations are expected to be resumed shortly.”
The company had faced production challenges last year due to non-supply of major raw material propylene from its supplier Hindustan Petroleum Corporation Ltd (HPCL). As a result, Andhra Petrochemicals was forced to shut down twice – in September and November – in 2013.
The company had faced production challenges last year due to non-supply of major raw material propylene from its supplier Hindustan Petroleum Corporation Ltd (HPCL). As a result, Andhra Petrochemicals was forced to shut down twice – in September and November – in 2013.