Yansab halts 2 plants for maintenance, sees financial impact of SAR 90 mln
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Yanbu National Petrochemical Co. (Yansab) announced today, Jan. 26, 2021, the scheduled shutdown of two plants to carry out preventive maintenance work according to industrial and technical standards.
The company explained in a bourse filing that the Ethylene Glycol plant will be halted for 21 days starting Feb. 1, 2021, while Olefins plant will be shut down for only 10 days beginning Feb. 5, 2021.
The preventive maintenance work is expected to have a financial impact on Q1 and Q2 2021 financials, valued at nearly SAR 90 million as per average prices. Yansab asserted that it will work to reduce the financial impact by utilizing the available inventory.
The company will disclose any development in due course.