Riyadh – Mubasher: Saudi Arabia’s Advanced Petrochemical Company on Tuesday announced resuming operation at its propylene plant as of Monday, 4 March.

The firm resumed business after finishing “necessary assessment for improvement”, according to a statement to the Saudi Stock Exchange (Tadawul).

Advanced Petrochemical stated that the shutdown’s financial impact will appear in the financial statement of the first quarter of 2019, based on the expected prices of Polypropylene and feedstock, the statement added.

On Thursday, 21 February, the Saudi petrochemical company unveiled that it would suspend business for a maximum of 10 days in its propylene plant.

Advanced Petrochemical last reported a 13.6% year-on-year rise in net profits after calculating Zakat and Tax to SAR 717 million during 2018, versus SAR 631.12 million a year earlier.

By 11:40 Saudi time, Advanced Petrochemical Company’s stock remained unchanged at SAR 55.90.