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Formosa cancels naphtha purchase tender after fire at MEG plant
September 26, 2012 / 7:01 AM / 5 years ago

Formosa cancels naphtha purchase tender after fire at MEG plant

SINGAPORE, Sept 26 (Reuters) - Taiwanese Formosa Petrochemical Corp, Asia’s top naphtha buyer, has cancelled its open-spec naphtha purchase tender following a fire at a monethylene glycol (MEG) plant operated by its sister company, traders said on Wednesday.

Formosa Petrochemical supplies its ethylene to the MEG plant. As of now, Formosa Petrochemical is still running its 2.93 million tonnes per year cracking complex at full capacity, traders added. (Reporting by Seng Li Peng; Editing by Himani Sarkar) (lipeng.seng@thomsonreuters.com; +65 6870 3086; Reuters Messaging: lipeng.seng.reuters.com@reuters.net)

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