Manali Petrochemicals Suspends Operations Due to Government Regulation

Manali Petrochemicals Ltd, engaged in the manufacture of Propylene Oxide and related petrochemical products, has been forced to temporarily suspend operations at Plant-1 due to a government regulation. The regulation, issued by the Ministry of Petroleum and Natural Gas, mandates that all crude oil processed at Chennai Petroleum Corporation Limited's refinery be directed exclusively towards the production of Liquefied Petroleum Gas. This has resulted in the cessation of propylene supply to Manali Petrochemicals, which constitutes the primary and indispensable feedstock for the company's manufacturing operations. The temporary shutdown is a force majeure event and the company is evaluating its implications.