Saudi Sipchem affiliate shuts butanediol plant for upgrade

August 31, 2014 - 6:34:08 pm

KHOBAR, Saudi Arabia: Saudi International Petrochemical Co (Sipchem) said on Sunday that an affiliate had suspended butanediol production for scheduled maintenance to improve the efficiency of operations.

Sipchem said in a bourse filing that the shutdown of the International Diol Co plant, which has an annual capacity of 75,000 tonnes, had started on Aug. 29 and would last four weeks.

It projected the losses which Sipchem would suffer due to the shutdown at 8 million riyals ($2.1 million), which would be reflected in third-quarter results.

Sipchem made a profit of 244.6 million riyals in the three months to June 30, up from 174.0 million riyals in the prior-year period. (Reuters)