Riyadh – Mubasher: National Petrochemical Company (Petrochem) on Thursday announced a temporary and non-scheduled halt of a factory of its subsidiary Saudi Polymers Company due to a sudden interruption at the beginning of the week.
Some technical problems were discovered when the factory units resumed their work and production capacity was increased, leading to the halt of all productions units on 10 May, according to a filing to the Saudi Stock Exchange (Tadawul).
The gradual reoperation of all units is expected to take around 14 days, the company added.
The financial impact of the halt cannot predicted before the second quarter of 2017 due to the instability in prices and uncertainty about the duration of halt.
Petrochem’s stock closed in the red zone at SAR 18.20, after losing 4.25% on Thursday.
