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Petrochem production lines resume operation

Petrochem production lines resume operation
A petrochemical plant
PETROCHEM
2002
-1.30% 45.45 -0.60

Riyadh – Mubasher: National Petrochemical Company (Petrochem) on Sunday said its plant at its 65%-owned subsidiary Saudi Polymers Company complex has resumed operation following a temporary and unscheduled halt.

The plant has resumed operation on Friday, 26 May, Petrochem said in a statement to the Saudi Stock Exchange (Tadawul).

The financial impact of the temporary halt will be seen in the company’s results for the second quarter of 2017, the petrochemical company said, noting that the value of the impact will be hard to determine at this point.

On 11 May, Petrochem had announced a temporary and unscheduled suspension of operations to supply nitrogen at a subsidiary plant owned by the Saudi Polymers Company.

The Saudi-listed company’s stock last closed Thursday down 0.05% to SAR 18.49.