SIIG to shut projects of JVs for planned maintenance

Logo of Saudi Industrial Investment Group (SIIG)

Saudi Industrial Investment Group (SIIG) announced plans to stop operations at the projects of its joint ventures (JVs), Saudi Chevron Phillips (SCP) and Jubail Chevron Phillips (JCP), for planned periodic maintenance and catalyst replacement.

JCP will be suspended for 50 days from Jan. 7, and SCP will be closed for 36 days from Jan. 13, according to a Tadawul statement.

SIIG’s other projects will continue operations as normal.

The turnaround was referred to in SIIG’s 2022 board report.

The financial impact of this turnaround will appear in the company’s Q1 2024 financials.

However, it is difficult to estimate the financial impact of this shutdown at this time, due to the changing prices of the products sold, SIIG added.