Advanced Petrochemical notify Propylene & Polypropylene plants shutdown

RIYADH: Advanced Petrochemical Company announced that its Propylene & Polypropylene plants will undergo a periodic scheduled maintenance from 04/02/2024 to 27/02/2024 by utilizing available Propylene stock, as well as outsourced Propylene.

Propylene plant will be restarted from 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.

Advanced Petrochemical Company is a Saudi Arabian company that produces and sells propylene, polypropylene, and other petrochemical products. It was founded in 2005 and is listed on the Saudi Exchange.

It operates several plants in Saudi Arabia, South Korea, and Turkey. It is currently expanding its production capacity with a new project that is expected to be completed by Q3 2024. It also participates in various social and environmental initiatives.

Aramco and TotalEnergies to jointly establish $11bn petrochemical facility in KSA