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$91m Q4 LOSS

Saudi Kayan ... postpones maintenance to March next year

Saudi Kayan delays key plants maintenance work

RIYADH, June 17, 2015

Saudi Kayan Petrochemical Company has pushed back maintenance work at some of its plants by six months to March next year, it said on Wednesday.

The company, an affiliate of Saudi Basic Industries Corporation (Sabic) was due to shut an ethylene gylcol and ethylene oxide plant from October 1 for 60 days for maintenance and repairs, as well as other plants for periods between 61 and 75 days.

The work was due to result in a loss of 340 million riyals ($90.7 million), which would have been booked in its fourth quarter earnings.

It did not reference in Wednesday's statement the length of time the plants were now due to close, but said the work will now start on March 30, 2016.-Reuters




Tags: petrochemical | Saudi Kayan |

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