Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) plans to operate two large projects during 2018, said CEO Ahmad Al Ohali.

Sipchem is on the verge of completing the projects’ technical tests, marketing, and obtain regulatory approvals for operation, Al Ohali added during an interview with Al Arabiya Channel.

The first project will produce engineering plastic, and its commercial operation will be during the coming months.

The second project is in Hail and it will produce photovoltaic material and will be operated in the first half of 2018.

The two projects are still in the final phases of commercial operation.

Sipchem’s net profits surged 415.36% to SAR 164.4 million during the fourth quarter of 2017, from SAR 31.9 million in the same period a year earlier.

By 10:54 am KSA time, the stock inched up 0.05% to SAR 18.78.