Saturday 28 November 2015

Saudi petchem firm restarts production after glitch

Riyadh, August 27, 2014

Saudi Arabia's Sahara Petrochemical said on Wednesday its subsidiary had fixed a technical fault at a utilities unit and was now working on restarting production.

Sahara, which ended merger talks with Saudi International Petrochemical Co (Sipchem) in June, said on August 17 a shutdown in polypropylene output had occurred at Al Waha Petrochemicals which could reduce third-quarter profit at the parent firm by nearly SR9 million ($2.4 million).

It did not provide an updated loss estimate in its statement on the Saudi bourse website on Wednesday.-Reuters

Tags: Saudi | Sahara Petrochemical |

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