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Sipchem announces the commercial operation of its EVA Film Plant

SIPCHEM 2310 0.47% 21.54 0.10

Element List Explanation
Date of posting the previous announcement on Tadawul’s website 2014-12-30 Corresponding to 1436-03-08
Change Details on development Saudi International Petrochemical Company (Sipchem) is pleased to announce that the EVA Film Plant (EVA), owned by Saudi Specialized Products Company (SSPC), an affiliate of Sipchem, commenced commercial operations today, January 01, 2019. The EVA Film plant performance tests were completed successfully confirming the plant’s capacity of 4,000 MT annual production capacity of Ethylene Vinyl Acetate Film.
Financial Impact on the change The financial impact of full commercial operations will be reflected in the company's financial results as of the first quarter of 2019.
Additional Information This project is the first of its kind in the Gulf region, located in Hail Industrial City. The total estimated cost of the project is SR 150 million. EVA Film is used to make the panels for solar cells generating electricity from solar energy.

This announcement is a reference to the company's earlier announcement published on the Tadawul website on 30/12/2014.

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