Alujain’s NATPET to commission polypropylene plant in December 2019

Alujain Corp’s subsidiary, National Petrochemical Industrial Company (NATPET), is set to commission its polypropylene plant (PP) in December 2019, following the Q4 2018 fire incident.

“The scheduled maintenance of the plant was conducted during this period,” the company said in a bourse statement.

NATPET, which is 57.4 percent owned by Alujain, received insurance compensation installments of SAR 330.67 million during the period ending June 30, 2019, which were recognized as other dues and liabilities in NATPET’s balance sheet.

NATPET’s PP in Yanbu was hit by a massive fire in October 2018, which led to a complete shutdown of the facility.

In February 2019, the company signed a SAR 244 million rehabilitation contract of the PP units affected by the blaze, and expected the unit to resume production by September 2019.