Saudi Arabia Fertilizers Company (Safco) has postponed the start of commercial operations at its urea plant to July from the previously scheduled end of June, the company said in a statement to Tadawul on Monday.
The delay won’t cause any additional costs to the SAR 200 million project, the company added.
Financial impact of the project will be reflected in the company’s results after commercial operation begins, it said.
The Safco 5, plant located in Jubail Industrial Area, has an estimated production capacity of 1.1 million tons of urea per year.
Safco is 12.20 percent owned by the General Organization for Social Insurance (GOSI), while Saudi Arabian Basic Industries Corp. holds 43 percent, according to data available on Argaam.
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