Sipchem to suspend 3 plants for scheduled maintenance

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Sahara International Petrochemical Company (Sipchem) unveiled the scheduled periodic Turnaround maintenance of three affiliated companies, which will enhance the reliability of the plants.

International Vinyl Company (IVC), International Acetyl Company (IAC), and International Gases Company (IGC) will contribute to achieving the future operational plans, according to a bourse disclosure.

In accordance with the company 2024 business plan, the scheduled turnaround maintenance of the plants will be for one month, starting from 1 May 2024.

The financial impact of this scheduled turnaround will depend on the actual duration of the turnaround and average sales prices. It will be reflected in the second quarter (Q2) of 2024.

Sipchem affirmed that it took the necessary actions to limit the potential impact on its customers, adding that it will make further announcements regarding the matter in due time.

In 2023, the listed company logged net profits valued at SAR 1.17 billion, down 67.32% year-on-year (YoY) from SAR 3.59 billion.