With reference to the announcement from Rabigh Refining & Petrochemical Co. (Petro Rabigh) on September 29, 2016 concerning the latest developments in the Rabigh (Phase II) Project, the company announces that it has achieved on-spec production at 10 of the Projects total of 12 units. The remaining two units will start up in the first quarter of 2018. Upon completion of all Phase II plants, both phases I and II will be integrated operationally within the Petro Rabigh industrial complex.

By the end of December 2017, the company achieved on-spec production at the units for Cumene, Phenol, Methyl tert-butyl ether (MTBE)/Isobutylene, Metathesis, Methyl Methacrylate (MMA), Naphtha Reformer, Poly Methyl Methacrylate (PMMA), Low Density Polyethylene/ (LDPE), Thermo Plastic Olefin (TPO) and Nylon 6 (Polyamide 6).

Production is expected to start at the Aromatics and EPR (Ethylene Propylene Rubber) units in the first quarter of 2018 as previously scheduled. Financial Impact of the above will be part of the company financial results starting the first quarter of current year, as it cannot be currently estimated.