Yansab sees SAR 150 mln financial impact on emergency repairs

21/08/2023 Argaam
One of Yanbu National Petrochemical Co.’s factories

One of Yanbu National Petrochemical Co.’s factories

Yanbu National Petrochemical Co. (Yansab) announced a temporary shutdown of its plants starting from Monday, Aug. 14, due to a technical glitch, according to a statement to Tadawul.

 

Work is currently underway to rectify the glitch and carry out the necessary repairs.

 

Based on the latest technical reports on the shutdown duration and its financial impact, the company expects the halt will continue for another 11 days.

 

The expected financial impact of the shutdown is estimated at SAR 150 million. The related impact will be reflected on the Q3 and Q4 2023 financials.

 

Yansab will announce any significant future developments in due course, the statement said.

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