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Sipchem resumes operation of methanol plant

Sipchem resumes operation of methanol plant
SIPCHEM
2310
0.93% 32.55 0.30
Saudi International Petrochemical Co. (Sipchem) said its 65%-owned subsidiary International Methanol Co. has completed the scheduled maintenance of its methanol plant and production was resumed on November 26, 2014, according to a bourse statement.
Sipchem had announced on Nov. 3 that its subsidiary was set to shut down its methanol plant for scheduled maintenance for three weeks starting from November 5, 2014.
The financial impact of the shutdown is expected at SAR 35 million and will materialize in Q4 2014.