Yansab temporarily shuts down plants on technical glitch, sees financial impact of SAR 120 mln

11/07/2021 Argaam

A Yansab plant

Yanbu National Petrochemical Co. (Yansab) announced a temporary shutdown of its plants due to a technical failure. The petrochemical producer is currently working on repairs and necessary maintenance.

 

The shutdown is expected to continue for 12 days starting today, July 11, Yansab said in a bourse filing.

 

Some of the company’s plants will resume operations gradually during the shutdown period. The related financial impact, based on average prices, is estimated at SAR 120 million.

 

The financial impact will appear during the third quarter of 2021.

 

Yansab will reduce this financial impact by optimizing the available inventory and will duly announce any significant future developments, the statement added.

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