SAFCO halts plant for 32-day maintenance, expects SAR 90 mln financial impact

15/12/2020 Argaam

Saudi Arabian Fertilizers Co. (SAFCO) temporarily halted operations at its SAFCO 4 plant due to a technical failure on Nov. 26, the company said in a bourse statement.

 

Work is currently underway to repair the failure and carry out the necessary maintenance activities.

 

The fertilizer producer added that based on the latest technical and financial reports on the duration of the suspension and the expected financial impact, the suspension period will extend to about 32 days, and the financial impact will reach approximately SAR 90 million.

 

The suspension will have an impact on the company's financial results for the fourth quarter of 2020.

 

SAFCO will announce any significant developments in this regard in due course.

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