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MOSCOW (MRC) -- Lloyd’s Register, a
professional services company specializing in engineering and technology
solutions, is to deploy its asset performance and risk management solution
AllAssets across 94 of Formosa Plastic Group’s (FPC) Taiwanese plants, according
to Hydrocarbonprocessing.
Formosa
Plastics Group, part of Formosa Petrochemical and one of Taiwan's top
petrochemical companies and a world leading producer of polyvinyl chloride (PVC)
resins, is working with Lloyd’s Register to achieve operational excellence
through Industry 4.0. The partnership is part of a company wide programme of
digitalisation that Formosa Plastics Group has introduced to enhance long-term
competitiveness while maintaining its commitment to environmental protection,
social prosperity and economic development.
Lloyd’s Register will deploy
its AllAssets solution to reduce risk, optimise task intervals and increase
asset reliability by managing integrity across their industrial assets. The
petrochemicals giant will benefit from the solution’s low code approach and
Model Designer tool, which will be used to enhance ‘out of the box’ risk models
to integrate with Formosa Plastics Group’s unique internal processes. Once
deployed, AllAssets will automate tasks to deliver process efficiencies and
standardise Formosa Plastics Group’s asset inspection and maintenance integrity
programmes.
As MRC wrote previously, FPC carried
out maintenance works at its plant in Jenwu, Taiwan in March 2021. Affected
units including a 546,000 tons/year PVC plant, 480,000 tons/year vinyl
chloride monomer (VCM) plant and the 400,000 tons/year ethylene dichloride (EDC)
line. It is unclear on the exact shutdown date, however, all of the units
remained offline for three weeks.
According to MRC's ScanPlast report,
Russia's overall PVC production reached 169,200 tonnes in the first two months
of 2021, down 4% year on year. All producers decreased production volumes over
the reported period.
Formosa Petrochemical is involved primarily in the
business of refining crude oil, selling refined petroleum products and producing
and selling olefins (including ethylene, propylene, butadiene and BTX) from its
naphtha cracking operations. Formosa Petrochemical is also the largest olefins
producer in Taiwan and its olefins products are mostly sold to companies within
the Formosa Group. Among the company's chemical products are paraxylene (PX),
phenyl ethylene, acetone and pure terephthalic acid (PTA). The company"s plastic
products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS),
polypropylene (PP) and panlite (PC). |
