Saudi Kayan Petrochemical extends olefins plant shutdown

12/03/2015 Argaam
Saudi Kayan Petrochemical Co. said on Thursday the regular maintenance of its olefins unit will last ten more days, due to a technical glitch.
 
Financial impact of the fault has been recalculated to SAR 310 million during first quarter results, significantly higher than the SAR 62 million the company had originally predicted last month. 
 
Scheduled maintenance at the unit, which started on Feb. 1, was completed as scheduled. However, the technical fault was discovered upon re-operation. 
 
Saudi Kayan expects activity at its high-and-low-density polyethylene plants to see temporary suspensions. In addition, the glycol ethylene and polypropylene plants might deliver lower output. 
 
The feedstock supplied by the other affiliates of Saudi Basic Industries Corp. (SABIC) was insufficient for the needs of Kayan’s plants during the maintenance period, the company added.
 
According to data available on Argaam, the bourse-listed company said in February that activity at the olefins unit will be temporarily suspended for planned maintenance for over five weeks.

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