Advanced to shut down PP plants for maintenance

Advanced Petrochemical Co. will halt operations at its propylene and polypropylene plants for scheduled maintenance starting Feb. 26 and 28, respectively, the company said in a statement to Tadawul on Thursday.

The propylene unit will resume operations on March 24, after catalyst replacement, while the other facility will be restarted on March 15 on utilizing available and outsourced propylene.

The relevant financial impact, based on propylene and feedstock prices, will show in Q1 2018.

The planned shutdown is aimed to enhance efficiency and reliability of operations, Advanced said, adding that the related effect has been taken into account when preparing the 2018 budget in terms of production volumes and revenue.