Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) announced a temporary shutdown of its plants to implement maintenance due to technical failure.

Closing the facilities is expected to remain for 12 days starting 11 July, according to a bourse filing on Sunday.

Yansab has estimated the financial impact of the shutdown to stand at SAR 120 million, which will reflect on the income statements of the third quarter (Q3) of 2021.

The listed firm said it will work on reducing the financial impact by using the available inventory.

In 2020, Yansab reported lower profits by 37.8% at SAR 677.6 million when compared to 2019.