Addendum announcement from Sipchem regarding the Methanol Plant Energy Efficiency and Performance Enhancement Project
With reference to the Saudi International Petrochemical Company (Sipchem) announcement on the Tadawul website on December 08, 2016, regarding the energy efficiency and performance enhancement project for the International Methanol Company plant (IMC), an affiliate of Sipchem (the Project).
Sipchem announces its intention to finalize the Project -during the forthcoming periodic scheduled turnaround starting on September 16th and lasting for a 5-week period. In addition to finalizing the Project, scheduled turnaround activities will be carried out in accordance with IMC's standard necessary routine preventive maintenance program.
This turnaround is in accordance with the IMC 2018 business plan. The financial impact of this scheduled turnaround and Project execution will depend on the actual duration of the turnaround and average sales prices and will be reflected in 2018 financial results. Sipchem will make further announcements in relation to any updates and progress as appropriate.
IMC has taken the necessary actions to limit the potential impact on its customers.