Saudi International Petrochemical Co (Sipchem) has shut down a methanol plant for scheduled maintenance starting November 1.
The nearly six-week maintenance at the plant, which belongs to Sipchem affiliate International Methanol Company (IMC), is to develop key parts of the factory and improve efficiency and reliability of operations, the company said in a statement to the stock exchange.
Sipchem said the financial impact of the shutdown will depend on its actual duration as well as average methanol prices during that period.
The impact will reflect in the fourth quarter, it added.
Sipchem owns 65 percent of IMC, while a Japanese consortium owns the rest.