Saudi Arabia Fertilizers Company (SAFCO) postponed trial operation of its SAR 2 billion urea plant -SAFCO 5- to the end of June to conduct more tests, the company said in a statement to the Saudi bourse, Tadawul.
This will subsequently delay the commercial operation of the project, which was scheduled to start in the third quarter of 2014.
The delay won’t add to the cost of the project and the financial impact will be reflected on its finances once the commercial operation starts, it said.
On December 25, the company said that a three-month trial operation of the plant’s utilities had started, according to Argaam.
Saipem, a subsidiary of Italian energy company Eni, was a warded in December, 2011 the contract to build- SAFCO 5-, with a production capacity of 1.1 million tons of urea a year
SAFCO is 43 percent owned by Saudi Arabian Basic Industries Corp (SABIC) and 12.20 percent by the General Organization for Social Insurance (GOSI).
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