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Jeddah-based Middle East Paper Co (MEPCO) confirmed on Monday that its operations have been impacted by the severe rainfall that hit Saudi Arabia last week.
Torrential rains caused floods in some parts of Saudi Arabia including Jeddah on Thursday, prompting authorities to close schools and universities. Due to the poor weather conditions, MEPCO was forced to stop production at its plant in Al Khumrah, according to a disclosure on the Saudi Stock Exchange (Tadawul).
“Some logistical activities [were also affected, but there were] no human injuries,” the company said.
MEPCO managed to restore about 40% of its production capacity within 48 hours. However, it is still “currently working” to restore full production capacity, which is expected within seven days.
“The financial impact will be determined after the restoration of production capacity and operation,” MEPCO said.
(Writing by Cleofe Maceda; editing by Seban Scaria )
