Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) will shut down its subsidiary Gulf Advanced Cable Insulation Company’s (GACI) Plant, which is located in Al Jubail Industrial City.
The closure is expected to take effect on 1 July and until further notice, according to a bourse filing on Wednesday.
The financial impact of the plant’s shutdown will reflect on the income statements of the third quarter (Q3) of 2021, with expectations to positively impact the financial results.
Earlier today, Sipchem announced the resumption of production activities at Sahara and Ma'aden Petrochemicals Company’s (SAMAPCO) plant.
