MOSCOW (MRC) -- Further to the previous announcement, which was published in Tadawul on September 30th , 2015 Sahara petrochemicals company announces that the Butanol plant started its trial startup operation on 20, October 2015, said the producer on its site.
It is subjected to the Performance Test of the plant and efficiency of production in accordance to the technology licenser and EPC contracts which is expected to last from three to six months to monitor and confirm the ability of the plant to commercial production which is expected in the first half of 2016.
Sahara Petrochemicals declare that it is difficult now to measure the financial impact due to the changes in energy prices.
The project is equally owned by Saudi Acrylic Acid Company (SAAC), Sadara Chemicals Company and Saudi Kayan Petrochemicals Company, Sahara Petrochemicals Company owns 43.16% of SAAC. Any development in this regard will be announced as it happens.
As MRC informed earlier, Sahara Petrochemical Co. posted net earnings of SAR 121 million for the third quarter ended 30 September, surging 608% compared with SAR 17 million in the same period a year ago. Nine-month net income, however, plunged 73% year-on-year from SAR 302 million to SAR 83 million.
Sahara Petrochemical is involved in building and operating petrochemical projects, especially propylene, polypropylene, ethylene and mixed polyethylene industries.
MRC