Riyadh-Mubasher: Methanol Chemicals Co. (Chemanol) said it will shut down its methanol plant for 15 days, starting from 23 December 2015 until 6 January 2016 for the scheduled periodic maintenance to replace the gas purification unit catalyst.

Accordingly, the Dimethylformamide plant will be closed for 17 days, the company said in a statement to the Saudi bourse - Tadawul.

The financial impact of this shutdown is expected to be around SAR 10 million; SAR 6 million is likely to appear in Q4-15, while SAR 4 million is forecasted to materialise in Q1-16.

In addition, the company will undergo a scheduled shutdown of its Pentaerythritol plant for 26 days, starting from 15 December 2015 until 11 January 2016, to replace the plant catalyst and to perform additional unscheduled maintenance works.

The financial impact of this shutdown is expected to be around SAR 10 million; SAR 9.5 million is seen appearing in Q4-15 and SAR 1.5 million is expected to materialise in Q1-16.