Saudi Kayan to halt olefins plant for periodic maintenance, sees financial impact of SAR 162 mln

Saudi Kayan building

Saudi Kayan Petrochemical Co. said on Thursday that its olefins plant will be shut down for 36 days, starting from March 11, 2021, for regular scheduled maintenance.

The maintenance is aimed to boost the plant’s production efficiency and improve its reliability, the company said, expecting production volumes to decrease during the maintenance period by around 231,000 metric tons.

The company also noted that the relevant financial impact based on the current average prices is estimated at SAR 162 million and will be reflected on the company's results during H1 2021.

The market needs will be fulfilled from the company's available stock, as part of a plan to mitigate the financial impact expected from the shutdown.

Saudi Kayan added that it will disclose the date of maintenance completion and resumption of operations in due course.