Riyadh – Mubasher: Saudi Arabia's Methanol Chemicals Company (Chemanol) on Tuesday announced that it would suspend the operations of Methanol and Dimethylformamide units for 21 days.

The suspension will start as of 8 February to complete the temporary maintenance and safety works as well as boost the production efficiency of the two units, according to a statement to the Saudi Stock Exchange (Tadawul).

The Saudi petrochemical producer expects a financial impact of SAR 26 million in Q1 2018 from maintenance shutdowns.

The maintenance of the two plants will not affect operations in the other plants, Chemanol said.

Chemanol’s stock ended Monday’s trading session up 1.5% at SAR 10.54.