Saudi International Petrochemical Co. (Sipchem) on Tuesday started scheduled periodic turnaround maintenance at its subsidiaries, Carbon Monoxide of International Gases Co. (IGC) and Acetic Acid of International Acetate Co. (IAC).
The maintenance program would be completed within five weeks, the company said in a bourse statement.
The maintenance came as part of both subsidiaries’ 2017 business plans and is expected to enhance their production efficiency.
Sipchem will announce the related financial impact once the maintenance process is finalized, expecting it to show in Q2-2017, the statement added.
The company has taken the necessary precautions to fulfill commitments to customers without interruption during this period.
Sipchem owns 72 percent stake and 87 percent stake in IGC and IAC, respectively.
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