Advanced to suspend plants for scheduled maintenance

Production line at a factory of Advanced Petrochemical Co.

Advanced Petrochemical Co. announced that its propylene and polypropylene plants will undergo periodic scheduled maintenance as of Feb. 4, according to a filing to Tadawul.

The polypropylene plant will resume operations as of Feb. 27 by utilizing available propylene stock and outsourced propylene.

Meanwhile, the propylene plant will restart as of March 3 after the replacement of the catalyst, the statement added.

Periodic maintenance is planned in accordance with normal industrial practices, Advanced said, noting that the impacts were considered in the 2024 budget, both in terms of the quantity of production as well as revenues. 

The relevant financial impact will likely be reflected on Q1 2024 financial statements based on the expected prices of feedstock and polypropylene. 

The company will announce any relevant developments in due course.