MOSCOW (MRC) -- Sahara Petrochemical Company has declared that its subsidiary Al Waha petrochemicals Company affected in this morning Sunday August 17, 2014 a technical fault in utilities unit, leading to the interruption of production processes in all operating units, reported Tadawul.
The repairing process at the plants is expected to end in a period not exceeding 9 days starting of 17 August, which means missed opportunity for the profitability of nearly 9 millions SR of polypropylene (PP) prices currently prevailing in the third quarter which will affect the expected profits in the third quarter of this year.
During the shutdown period some of the periodical maintenance items will get repaired, the company clients will be supplied from the standby reserves available in its warehouse. There will be an update in case of any developments in this regard.
As MRC wrote previously, the world-scale petrochemical complex in Jubail Industrial City in Saudi Arabia has a capacity of 467,000 tonnes of propylene utilising Oleflex technology, which serves as a feedstock for the 450,000 tonnes PP unit. The plant is considered to be largest, producing high-quality polypropylene using LBI's technology, sphereizone.
Al Waha Petrochemicals Company is owned by Sahara Petrochemicals Company, which holds 75% of its share capital with LyondelBasell owning 25%.
MRC