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Basic Chemical Industries Co. SJSC

11/07/2021 | Press release | Distributed by Public on 11/06/2021 23:16

Basic Chemical Industries Co. Announces an update on Commencement of work for Jubail project.

Basic Chemical Industries Co. Announces an update on Commencement of work for Jubail project.

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Element List Explanation
Introduction Basic Chemical Industries Company announces the completion of the project to produce chlorine and its derivatives in Jubail Industrial City by 95%.

And announces the start of operations' tests for the control systems by providing it with a power generated inside the site, until the electrical power is supplied by the end of November 2021, according to the work schedule with the service provider.

Previous Announcement Commencement of work for Jubail project.
Date of Previous Announcement on Tadawul's Website 2021-06-07 Corresponding to 1442-10-26
Percentage of fulfilled achievement 95%
Event's Expected Completion Date February 2022
Reasons for Exceeding the Announced End Date Power Supply/ connection
The costs associated with the event, and if they have changed or not with indication of the reasons. NA
Impact of the Delay on the Company's Financial Results NA
Additional Information The company is currently working on developing plans to reach the new factory to full production capacity during the first quarter of 2022, in conjunction with the development of a plan for Dammam factory ramp down.

The company is also studying the decision on the status of the current factory in Dammam, by studying its investment options in an optimal manner to ensure the best strategic return for the stakeholders.

The Capital Market Authority and the Saudi Stock 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.