Now Reading
Saudi Sipchem Says Unit To Shut Methanol Plant For Maintenance

Saudi Sipchem Says Unit To Shut Methanol Plant For Maintenance

The shutdown, which will start on Wednesday, will boost efficiency and production, Sipchem said in a bourse filing.

Saudi International Petrochemical Co (Sipchem) said on Monday one of its affiliates will shut a methanol plant for around three weeks for maintenance and some repairs.

The shutdown, which will start on Wednesday, will boost efficiency and production, Sipchem said in a bourse filing.

As a result of the outage, Sipchem will incur losses of SAR35 million ($9.3 million) which will be reflected in the fourth-quarter financial results.

The company has taken precautions to alleviate the impact of the shutdown on its customers, it said.

The unit in question, International Methanol Company (IMC), is 65-per cent owned by Sipchem while a group of Japanese companies hold the rest.

It has an annual production of 967,000 tonnes of methanol, according to Sipchem’s website.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top