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11-Nov-2018

Sahara to commence a large turnaround at Al Waha after a technical issue, to affect 4Q18 results

Sahara has announced an emergency shutdown at Al Waha after a technical issue that took place during operations. The company was targeting 1Q19 to commence a large maintenance turnaround; however, with the current condition, it has decided to proceed with it as of now. The turnaround will last for no more than 30 days, and it is set to boost the reliability of the plant, so that it could deliver consistent operations during 2019. Based on the release, the financial impact of the shutdown is estimated at SAR42mn, which will be reflected on 4Q18 financial results.  
 
Sahara Petrochemicals: SAR17.12 as of 08 Nov 2018, Rating: Buy, TP: SAR19.00/share, MCap: USD2,003mn, SPC AB/2260.SE

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