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Saudi Kayan Petrochemical Co. announces the latest developments on the limited fire in the operating unit of the Bisphenol plant
2350
SAUDI KAYAN
4.18
%
1445/05/05 19/11/2023 09:38:23
| Element List | Explanation |
|---|---|
| Introduction | Saudi Kayan Petrochemical Company (Saudi Kayan) announces that the fire assessment in the operating unit of the Bisphenol plant has been completed and it is noted that the current estimates for this event amount to approximately 443 million Saudi riyals, as this impact was reflected starting from the company’s results for the third quarter of the year 2023 and it is expected that It will continue until the end of the first half of 2024. The plant is also operating at a partial production capacity of approximately 50% and work is underway to resume the unit’s operation at full production capacity by the end of the first half of 2024, and any developments in this regard will be announced later. |
| Previous Announcement | Saudi Kayan Petrochemical Co. announces that a limited fire occurred in an operating unit of the Bisphenol Plant |
| Date of Previous Announcement on Tadawul's Website | 2023-09-14 Corresponding to 1445-02-29 |
| Percentage of fulfilled achievement | The Bisphenol plant is operating at a partial production capacity of approximately 50% |
| Event's Expected Completion Date | By end of the first half of 2024 |
| Reasons for Exceeding the Announced End Date | Saudi Kayan was working with the relevant parties to make a technical and financial assessment for the duration of the shutdown and the expected financial impact of this event, which takes a certain period to obtain the initial reports. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | 443 MSR based on current estimates |
| Impact of the Delay on the Company's Financial Results | NA |
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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