SIIG: Maintenance still ongoing on the repair of Saudi Polymers project unit

The Saudi Industrial Investment Group SIIG announced on Sunday that maintenance work is still ongoing on the repair of the unit for one of its projects (Saudi Polymers Company), and given the quality and size of the unit, and the nature of its mechanical repairs, it will take more time than expected to ensure safe operation of the unit.
The company said today on “Tadawul” that the current expectations indicate a restart of operations will be in the end of next week, noting that SIIG’s other projects (Saudi Chevron Phillips and Jubail Chevron Phillips) are running normally and at full capacity.
The Company explained that the Financial Impact on the change The financial impact of this shutdown cannot be measured at this time due to the fluctuation of product prices and the uncertainty of the duration of the shutdown. The financial impact of this shutdown will be reflected in SIIG Q1, 2023 results. SIIG will announce any material developments in a timely manner
This comes reference to Saudi Industrial Investment Group announces relating to the unplanned shutdown for one of its subsidiaries (Saudi Polymers Company) as a result of a technical issue in the Ethylene refrigeration unit, which was expected to be operational this week.