Sipchem plans scheduled maintenance of 2 affiliate plants

16/04/2023 Argaam
One of Sipchem’s plants

One of Sipchem’s plants

Sahara International Petrochemical Co. (Sipchem) scheduled shutdown of its affiliates, International Methanol Co. (IMC) and International Diol Co. (IDC), to carry out maintenance work in line with the established standards for the necessary routine and preventive maintenance.

 

This will contribute to enhancing the reliability of the plants and allow them to achieve future operational plans, the company said in a statement on Tadawul.

 

The shutdown will start on May 1, and is set to last for five weeks. 

 

The financial impact will depend on the actual duration of the process and average selling prices, and will be reflected on Q2 2023 financial results, the statement added. 

 

Sipchem has taken the necessary actions to limit the potential impact on its customers, it said, noting that it will make further announcement in relation to any updates and progress as appropriate.

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