Yansab restarts ops in olefins plant

Yanbu National Petrochemical Company (Yansab) has resumed operations in the olefins plant on May 10, 2017, the company said in a statement to Saudi bourse, Tadawul.

However, the company’s ethylene glycol plant is still shut for ongoing regular maintenance.

Any amendments in the relevant financial impact will be disclosed upon completing the maintenance process, the company said.

In March, Yansab unveiled plans for a 21-day shutdown of its ethylene glycol plant for scheduled maintenance starting April 21, 2017. The petrochemical firm said it would also halt production for 10 days at its olefins plant, starting May 1. Financial impact of the shutdowns is estimated at SAR 110 million based on average prices, and is expected to show in Q2 and Q3 2017 results, Argaam reported.