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Sahara International Petrochemical Co. (Sipchem) announced suspension of operations at the polymers plant of International Polymers Co. (IPC) and ethyl acetate plant of Sipchem Chemicals Co. (SCC) for the scheduled periodic turnaround maintenance.
IPC and SCC are affiliate firms of Sipchem, the company said in a bourse filing.
The turnaround maintenance starts today, Feb. 1, 2021, and will continue for six days at the polymers plant and 16 days at the ethyl acetate plant.
The maintenance will contribute to enhancing the reliability and production of these plants and allow them to achieve their future operational plans, the statement said.
The turnaround is in accordance with the IPC and SCC 2021 business plans. The financial impact of the maintenance will be announced once the activity is completed and will reflect in Q1 2021 financial results.
The company has taken the necessary actions to limit any potential impact on its customers. Sipchem will make further announcement in relation to any updates and progress as appropriate.
IPC is jointly owned by Sipchem (75%) and Hanwha Chemical Corporation (25%), while the Tadawul-listed firm owns 95% of SCC, according to the data available with Argaam.
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