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Saudi Kayan Petrochemical Company announces the latest developments on the Bisphenol plant operating unit
| Element List | Explanation |
|---|---|
| Introduction | Saudi Kayan Petrochemical Company (Saudi Kayan) is delighted to announce the successful completion of all construction activities for the bisphenol plant. Consequently, the plant is operating at its full production capacity. It should be noted that the company worked to reduce the financial impact and obtained part of the insurance amount, which resulted in a decrease in the financial impact to 85 million Saudi riyals up to date compared to the previously announced 443 million Saudi riyals, as it will reflect positively on its results in the first half of 2024, and work is underway to reduce this impact during the second half of 2024. |
| Previous Announcement | Saudi Kayan Petrochemical Co. announces the latest developments on the limited fire in the operating unit of the Bisphenol plant. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-11-19 Corresponding to 1445-05-05 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Construction and operational activities have been successfully completed. |
| Reasons For The Delay on The Date of The Event Previously Announced | None |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The company worked to reduce the financial impact and obtained part of the insurance amount, which resulted in a decrease in the financial impact to 85 million Saudi riyals up to date compared to the previously announced 443 million Saudi riyals, as it will reflect positively on its results in the first half of 2024, and work is underway to reduce this impact during the second half of 2024. |
| Delay consequences on the Company’s financial results | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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