19 February 2009 10:55 [Source: ICIS news]
SINGAPORE (ICIS news)--Saudi Arabia's Yanbu National Petrochemical Co (Yansab) will not keep to the planned start-up schedule for its new cracker complex in Yanbu, a source close to the project said on Thursday.
The complex was scheduled to come on stream by the end of the first quarter of this year, after missing an earlier deadline in the fourth quarter of last year.
"The project will definitely be delayed [beyond the first quarter], but no information is available on the new start-up date," the source said. No reasons were given for the delay.
Company officials were not available for comment.
A 700,000 tonne/year monoethylene glycol (MEG) plant, which is part of the complex, started test runs earlier this week.
Saudi Basic Industries Corp (SABIC) is the main shareholder in Yansab, with a 51% stake.
Yansab's 35% share is publicly traded on the Saudi stock exchange, while the rest is distributed between 17 Saudi and other Gulf Cooperation Council (GCC) companies.
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