According to a bourse filing on The Saudi Stock Exchange Tadawul on February 23, 2023, Methanol Chemicals Company (Chemanol) announces that it will shut down its Methanol and Amine plants for a period of 17 days starting from 25 February 2023 till 14 March 2023 for the scheduled periodic maintenance to maintain the operational efficiency and reliability of the two plants. The Company will later announce the resumption of the commercial operation of the two plants upon completion of the above-mentioned maintenance.
It is worth mentioning that the shutdown will not affect the workflow of other Company plants.
Hence, the financial impact of this shutdown will appear in the financial results of Q1 of 2023.
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