Initial repair costs of accident damage reach SAR 10M: Saudi Chemical

04/01/2024 Argaam
Logo ofSaudi Chemical Co. Holding (SCCH)

Logo of Saudi Chemical Co. Holding (SCCH)

Saudi Chemical Co. Holding (SCCH) said investigations are underway to determine the causes and impact of the recent accident in a reactor in a production line of a factory owned by subsidiary Saudi Chemical Co. Ltd.

 

The investigation's duration is uncertain, and any material developments will be announced in due course. Commercial operations are still idle at the damaged production line, SCHC said in a statement to Tadawul today, Jan. 4.

 

The financial impact of repairing this line is estimated at SAR 10 million, affecting the first quarter of 2024.

 

SCHC reported a reactor accident at its subsidiary's factory at 2.30 am on Jan. 2 in Atshanah, according to data compiled by Argaam.

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