Sipchem shuts IMC plant for 17-day maintenance

One of Sipchem's factories

Sahara International Petrochemical Co. (Sipchem) halted operations at its International Methanol Co. (IMC) plant as of today, Sept. 21, to undergo periodic maintenance, in line with routine and preventive requirements.

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In a Tadawul filing, the company said the periodic turnaround will last about 17 days, starting today. The related financial impact will depend on the actual duration and average sales prices but will be reflected in the third- and fourth-quarter earnings.

Sipchem said this turnaround will improve reliability and support future operating plans, adding that precautions were taken to avoid any disruption to client commitments. More updates will be announced in due course, it noted.

Sipchem holds 65% of IMC, while Japan Arabia Methanol Co. (JSMC) owns the remaining 35%. This joint venture (JV) boasts SAR 360.97 million in capital, producing an annual capacity of 970,000 metric tons of methanol, according to Argaam data.