SIIG says scheduled maintenance at Saudi Polymers starts Oct. 1

Logo of Saudi Industrial Investment Group (SIIG)

Saudi Industrial Investment Group (SIIG) said that 58-day scheduled maintenance works at its joint venture project, Saudi Polymers Co., will start from Oct. 1.

 Other SIIG projects will continue normal operations, the company said in a bourse filing today, Sept. 8.

The relevant financial impact will likely appear on financial results for Q4 2022, but it is difficult to determine the financial impact at present, due to the changing prices of the sold products, the statement added.

Saudi Polymers Co. is 65% owned by SIIG and 35% owned by Saudi Chevron Phillips (SCP), and it producers ethylene, propylene, polyethylene, polypropylene, hexene, general purpose polystyrene (GPPS) and high impact polystyrene (HIPS).