Saudi Kayan plans shutdowns for periodic maintenance from March 1, expects SAR 147 mln financial impact

18/01/2023 Argaam

Saudi Kayan plans shutdowns for periodic maintenance from March 1, expects SAR 147 mln financial impact

Saudi Kayan headquarters

Saudi Kayan Petrochemical Co. will shut down some of its production units, starting from March 1 until April 14, 2023, for scheduled periodic maintenance, it said in a statement on Tadawul. 

 

The petrochemical firm will close its Ethylene Glycol/Oxide unit for 28 days, the Polycarbonate unit for 40 days and the Phenolic unit for 20 days. The Amines and Ethoxylate units will each come to halt for 28 days. 

 

The maintenance aims to increase production efficiency and improve the reliability of the plant, the statement added. 

 

The financial impact of this shutdown is assessed at SAR 147 million, according to the current average selling prices, which will be realized during H1 2023. The petchem producer will meet the needs of the market by using the stock available through a systematic plan to reduce the financial impact. 

 

Any material developments, if any, will be announced in a timely manner, Saudi Kayan also said. 

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