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