SIIG completes Saudi Polymers maintenance, sees financial impact of SAR 230 mln

08/03/2023 Argaam
A SIIG factory

A SIIG factory

Saudi Industrial Investment Group (SIIG) completed on March 7 maintenance work at its subsidiary Saudi Polymers Co. (SPC), restarting all project’s units.

 

In a statement to Tadawul, SIIG said the financial impact of this unscheduled suspension is estimated at SAR 230 million, expecting this to appear in the first quarter of 2023.

 

In January, the petrochemical producer announced a temporary, unscheduled shutdown of SPC on a technical glitch in the ethylene refrigeration unit, Argaam reported.

 

All SPC units were first expected to be up and running within a week, but the downtime was extended to ensure safe and reliable operations.

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