Yanbu National Petrochemical Co. (Yansab) is planning a 66-day shutdown of its ethylene glycol plant for scheduled maintenance and plant expansions starting Oct. 22, 2018, the company said in a statement to Tadawul on Wednesday.
Financial impact of the shutdowns is estimated at SAR 180 million based on average prices, and is expected to show in Q4 2018 and Q1 2019 results, Yansab said.
The company will work to reduce this financial impact through optimum use of the available stock, it added.
In March 2017, Yansab awarded an engineering, procurement and construction (EPC) contract worth SAR 373 million for an ethylene glycol DBN project to South Korea’s eTEC E&C, according to data available on Argaam.
The company then said that ethylene glycol production would increase by at least 80,000 tons per year following completion of the project.
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