The Clap
Saudi Kayan Petrochemical Company has revealed that the current estimates of the impact of the fire in one of its operating units at the Bisphenol plant amount to approximately 443 million Saudi Riyals.
What
The company had announced in the previous September about a limited fire in one of the operating units at the Bisphenol plant, which is used as a raw material for the production of polycarbonate. The company stated that the fire was immediately controlled without any impact on its other operating units, and there were no human injuries.
Saudi Kayan also mentioned that all of its factories and facilities are covered by comprehensive insurance, according to the terms and regulations governing it.
So What
This is important because the factory is currently operating at partial production capacity, reaching about 50%. The company aims to resume the full production capacity of the unit by the end of the first half of 2024.
It’s worth noting that Kayan is a leader in the production of chemicals, polymers, and specialty products. It owns a petrochemical complex in the industrial city of Jubail, which is one of the largest complexes in the world.
Now What
The company has stated that the impact of the fire will be reflected in its financial results starting from the third quarter of the current year, and it is expected to extend until the end of the first half of the next year.
