Natpet ​to ​ shut ​​ down Yanbu ​plant for ​33-day ​ maintenance ​ period​

Alujain Corporation said that its 57.4 percent-owned subsidiary, National Petrochemical Industrial Co. (N​atpet), will shut down its propylene and polypropylene complex in Yanbu Industrial City for scheduled maintenance.

The repairs will take 33 days starting on Jan. 25, the company said ​on Thursday ​in its statement to Tadawul, Saudi Arabia’s bourse.

The estimated financial impact of the shutdown will be SAR 38 million, depending on prevailing prices of polypropylene and feedstock, which will be reflected on the financials of Q1-2015​, it added​.

from shutdowns for turnaround procedures are not counted as loss in production or revenue, since it is planned in advance in accordance with accepted industrial procedures.

The impact has already been taken into account for the 2015 budget, both in terms of the quantity of production and expected revenue​, the company added​.