Saudi Kayan restarts ethylene glycol/oxide ethylene plant

11/04/2016 10:16 AST

Saudi Kayan Petrochemical Co. restarted on Sunday a plant that produces ethylene glycol and oxide ethylene after scheduled maintenance and some technical repairs, the company said on Monday.

The affiliate of Saudi Basic Industries Corp (SABIC) said in January that it would shut the plant down on March 1 for 48 days, having initially postponed the work from last October.

The shutdown would also halt the production of polycarbonate, ethoxylates and amines for 53 days.

Kayan said on Monday that all plants which depended on the ethylene glycol and oxide ethylene complex would be restarted according to a set timeframe.

Kayan said previously that the financial impact of the shutdown would amount to about 96 million riyals ($25.6 million), which would be reflected in its first- and second-quarter results.

Three analysts polled by Reuters have, on average, forecast that Kayan will make a net loss of 373.77 million riyals in the first quarter, a narrower loss than the corresponding period of 2015. ($1 = 3.7499 riyals)


Reuters

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