Mysore Petrochem to shut down plant

Mysore Petro Chemicals is to close its phthalic anhydride (PA) plant located at Raichur, Karnataka. The company, in a release to the stock exchanges, said: “The operation of PA plant at Raichur has been incurring cash losses during the last three years. The capacity of the plant is 12,000 mt, which is uneconomical and hence it has been considered appropriate to close down the operations with effect from July 16.” The management will explore all possible ways of utilising its plant and machinery in the most suitable manner. The Maleic Anhydride (MA) plant of the company at Taloja, Maharashtra will continue normal operations.