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ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE SCHEDULED SHUTDOWN OF ITS PROPYLENE & POLYPROPYLENE PLANTS FOR PERIODIC SCHEDULED MAINTENANCE ACTIVITIES

2330
ADVANCED
0.23 %
1445/07/16     28/01/2024 09:45:07

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Announcement Detail Advanced Petrochemical Company (the “Company”) announces that its Propylene & Polypropylene plants will undergo a periodic scheduled maintenance from 23/07/1445H corresponding to 04/02/2024.

Polypropylene plant will be restarted from 17/08/1445H corresponding to 27/02/2024 by utilizing available Propylene stock, as well as outsourced Propylene. Propylene plant will be restarted from 22/08/1445H corresponding to 03/03/2024 after the replacement of catalyst.

It may be worth mentioning that such shutdowns for periodic maintenance are in accordance with normal industrial practices for carrying out required periodic scheduled maintenance, and the effects have been taken into account in the preparation of the budget for 2024, both in terms of the quantity of production as well as revenues.

The expected financial impact for this shutdown will be reflected in the financial statements of the first quarter of 2024 based on the expected prices of feedstock and Polypropylene.

The Company will announce any new updates and progress in this regard.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 43.4
Net Change 0.1 (+0.23%)
Value Traded (Sar) 20,961,944.5
Volume Traded 481,557
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