Petrochem to shut down SPC's complex for 60 days in 4Q2016; BoD recommends zero DPS for 2015
National Petrochemical Company (Petrochem) announced that it intends to shut down the complex of its 65%-owned subsidiary, Saudi Polymers Company (SPC), during 4Q2016. According to the announcement, the complex will be shut for a period of 60 days, while the financial impact will appear on 4Q2016 and 1Q2017 results. Separately, the company's BoD recommended not paying dividends for 2015, given the liquidity requirements set by its project lenders. (Tadawul)
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