Saudi Kayan headquarters
Saudi Kayan Petrochemical Co. announced today, July 18, the completion of all construction works on its bisphenol plant and the restart of its full operational capacity.
In a statement to Tadawul, the company pointed to minimizing the financial impact related to the fire that broke out at the plant last year. Given that part of the insurance claim was received, the related financial impact was lowered to SAR 85 million to date, compared to the previously announced SAR 443 million.
This shall reflect positively on business results for the first half of 2024, with work underway to cut this impact further in the second half of the year, it added.
In September 2023, Saudi Kayan announced that a limited fire broke out at one of the operating units of its bisphenol plant, a primary material for the polycarbonate plant, according to Argaam’s data.
The fire's financial impact was initially estimated at around SAR 443 million.
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