Alujain says NATPET Yanbu plant to operate at full capacity by Q4 2019

Alujain Corporation (Alujain) expects repairs at National Petrochemical Industrial Co.'s (NATPET) Yanbu plant to be finalized before launching commercial operations in September 2019, chief executive officer, Abdullah Al-Anzi, told Argaam.

"NATPET plant is expected to operate at full production capacity in Q4 2019," Al-Anzi said, adding that Alujain seeks some expansions and recycling projects in the petrochemicals sector.

Al-Anzi said the insurance company will soon determine the reimbursement payment for the fire incident in NATPET Yanbu plant. The insurance policy covered the accident, including repair expenses, as well as financial impact from the production halt.

"The relevant financial impact cannot be determined at present; we have to first review the insurance company's final report, and assess the impact of the production halt," he added.

The polypropylene production line was hit by the fire incident, however, Alujain expressed no plans to sell the unit, Al-Anzi noted.

In October, a fire broke out at NATPET plant in Yanbu, killing one worker and injuring 11 others.

Alujain Corp. owns 57 percent of NATPET.