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FINANCIAL NEWS
Saudi Kayan reschedules plans to avoid USD90.7m loss in Q4
21 Jun 2015
(MENAFN) Saudi Kayan Petrochemical Co has chosen to delay maintenance work at certain plants till March next year, a move made to avoid a prospect loss of USD90.7 million for the fourth quarter, Reuters reported.
Kayan Petrochemical, the subsidiary of Saudi Basic Industries Corp (SABIC), was scheduled to close down an ethylene gylcol and ethylene oxide plant for two months for maintenance work, added to other plans for almost three months.
The move was done so that the company can avoid significant losses of about USD90.7 million, which would have been recorded over its fourth quarter results, Kayan said.
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