08 February 2013 11:46 [Source: ICIS news]
SINGAPORE (ICIS)--Saudi Basic Industries Co (SABIC) plans to shut down its polyethylene terephthalate (PET) plant at Yanbu in Saudi Arabia for maintenance in March, a source close to the company said on Friday.
“The maintenance is expected to last around a month,” the source said.
The plant, which has a capacity of 330,000 tonnes/year, is the only PET plant in Saudi Arabia.
“Supply in Saudi Arabia will tighten in March because of the turnaround,” a trader said.
Demand for PET has been bearish in the Middle East in recent months but is expected to pick up in March, when the peak season begins, market sources said.
Additional reporting by Lanny Chandra
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