Saudi- Sipchem affiliate's plant begins operations
(MENAFN- Arab News) JEDDAH: Saudi International Petrochemical Co. (Sipchem) said a plant owned by its affiliate had begun commercial operations of cable insulation polymers.
The financial impact shall be reflected in Sipchem's second-quarter earnings statements according to a statement to the Riyadh bourse.
The plant owned by Gulf Advanced Cables Insulation Co is based in Jubail in the east of the kingdom and produces polymers used to manufacture electric cable insulators.
In April Sipchem reported a 17.3 percent increase in first-quarter profit. Sipchem made a profit of SR80.6 million in the three months to March 31.
The financial impact shall be reflected in Sipchem's second-quarter earnings statements according to a statement to the Riyadh bourse.
The plant owned by Gulf Advanced Cables Insulation Co is based in Jubail in the east of the kingdom and produces polymers used to manufacture electric cable insulators.
In April Sipchem reported a 17.3 percent increase in first-quarter profit. Sipchem made a profit of SR80.6 million in the three months to March 31.
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