Lotte Chemical Suspends Operations at Pakistan Plant Due to COVID-19 Impact
[Asia Economy Reporter Hwang Yoon-joo] Lotte Chemical has temporarily suspended operations at its Pakistan plant due to the impact of the novel coronavirus disease (COVID-19).
On the 28th, Lotte Chemical stated, "We halted operations at the Pakistan plant last weekend due to lockdowns in India and surrounding countries," adding, "We plan to resume operations as soon as the situation stabilizes."
The Pakistan plant produces 500,000 tons annually of PTA (Purified Terephthalic Acid), which is widely used in polyester fibers, industrial yarns, and PET bottles.
The Pakistan government has extended its lockdown order until the 9th of next month to prevent the spread of COVID-19. Neighboring India has extended its lockdown order until the 3rd of next month.
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Meanwhile, Lotte Chemical has also suspended operations of two Meta-Xylene (MeX) lines and one Para-Xylene (PX) line at its Ulsan plant in South Korea due to market fluctuations.
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