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UPDATE 1-S.Korea's YNCC restarts No.1 naphtha cracker

Tue May 6, 2008 10:51pm EDT

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(Adds comments from company source, details)

SEOUL, May 7 (Reuters) - South Korea's Yeochun Naphtha Cracking Centre (YNCC) has restarted its No.1 naphtha cracker after it was hit by a power outage over the weekend, a company source said on Wednesday.

The petrochemical unit was now running at 50 percent capacity, the source added.

"We started feeding the unit late last night, and now it's running at half the capacity," said the source close to YNCC's naphtha operations.

Its No.2 naphtha cracker will resume operation by May 8-9, while the restart date for the No.3 unit has not yet been set after another outage on Tuesday, the source added.

YNCC has three naphtha cracking units: No. 1 with 857,000 tonnes per year (tpy) capacity, No. 2 with 550,000 tpy capacity and No. 3 with 400,000 tpy capacity.

All three units were shut due to a power outage on Saturday which also affected operations at other firms in the Yeosu National Industrial Complex, including Hanwha Chemical Corp (009830.KS), Kumho Petrochemical (011780.KS) and Daelim Industrial Co Ltd (000210.KS).

YNCC's No.3 cracker was shut again on Tuesday after it was restarted following the initial power outage. (Reporting by Angela Moon; Editing by Edmund Klamann)



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