Riyadh – Mubasher: Saudi International Petrochemical Co (Sipchem) on Tuesday announced that the scheduled periodic turnaround maintenance of its affiliate International Diol Company’s (IDC) Plant will start on Tuesday, 15 January 2019.
This will improve the plant’s reliability and efficiency of production, Sipchem said in a statement to the Saudi Stock Exchange (Tadawul).
The maintenance will be implemented in accordance with 2019 business plans and is set for completion within 41 days, the Saudi petrochemical firm indicated.
Sipchem will announce the financial impact of the scheduled turnaround maintenance once it is completed, which will be reflected in the company’s financial results for the first quarter of 2019, according to the statement.
“IDC has taken the necessary actions to limit the potential impact on its customers,” the company said.
Sipchem previously posted a 98.9% surge in net profits after zakat and tax for the first nine months of 2018, recording SAR 543 million ($144.71 million), versus SAR 273 million ($72.75 million) in the corresponding period of 2017.
