Riyadh-Mubasher: Sadara Basic Services Co. said the parent Sadara Chemical Co. will receive SAR 113.4 million as insurance compensation for fire at its cooling tower.
The compensation will be used in rebuilding the cooling tower, the company said in a statement to Tadawul.
The company does not anticipate any significant further financial impact with respect to the rebuilding cost.
The insurance claim will be recorded in Sadara Chemical's balance sheet of the fourth quarter of 2015 and the first quarter of 2016.
The company earlier said fire broke into the cooling towers of its complex.
