Saudi Arabia's Yanbu National Petrochemical Company (Yansab) said the temporary shutdown of its plants, which started on August 14, 2023, will continue for another 11 days.

Currently, the necessary repairs are being carried out to resolve the technical glitch, Yansab said in a statement to the Saudi stock exchange on Monday.

The petrochemical company is a subsidiary of the Saudi Basic Industries Corporation (SABIC).

The expected financial impact of the shutdown is estimated at 150 million Saudi riyals ($39.99 million).

The impact will be reflected in the company's financial statements for the third and fourth quarters of 2023.

Yansab shares closed slightly lower at SAR 43.5 on Tadawul on Monday.

(Editing by Brinda Darasha;