“Sipchem” to stop a subsidiary’s factory for scheduled maintenance work

Sahara International Petrochemical Company (Sipchem) announced its intention to conduct a scheduled shutdown of the Al Waha Petrochemical Company plant (one of Sipchem’s subsidiaries) for the purpose of carrying out scheduled maintenance work in line with the standards followed for the necessary periodic and preventive maintenance. Which, according to the company, will contribute to raising the level of reliability and achieving its future operational plans.

Sipchem expects that this stoppage, which is included in the company’s business plan and budget for the current year, will continue for four (4) weeks, starting on Wednesday, February 14, 2024 AD, noting that the financial impact of this stoppage depends on the actual duration of the stoppage during the scheduled periodic maintenance period and the average sales prices of the products during the period. Stopping, and this effect will appear in the results of the first quarter of 2024.

In order to fulfill the company’s obligations towards its customers, all necessary precautions have been taken to avoid any impact of this suspension on the company’s obligations.