RIYADH: Saudi Kayan Petrochemical Co (Saudi Kayan) said it had brought its ethylene oxide/ethylene glycol plant back into operation after scheduled maintenance and will soon restart other shuttered plants.
The unit of Saudi Basic Industries Corp (SABIC) has not yet reached full production after being set up in 2007.
The company said other production plants are now under preparation for startup in the coming days.
Saudi Kayan is building a large manufacturing complex in Jubail Industrial City with eventual planned output capacity of 6 million tons a year. It will also make ethylene, propelene, polypropelene, butene-1 and other products.
SABIC reported a year-on-year fall in first-quarter net profit of 10 percent this month to $ 1.75 billion, in line with analyst forecasts.
On the stock market, Saudi Kayan Petrochemical Co. surged 0.90 percent to reach SR 11.30.
Saudi Kayan restarts plant
Saudi Kayan restarts plant
