Logo design of Saudi Industrial Investment Group (SIIG)
Saudi Industrial Investment Group (SIIGrevealed strategies to stop operations at the tasks of its joint endeavors (JVs), Saudi Chevron Phillips (SCPand Jubail Chevron Phillips (JCPfor prepared regular upkeep and driver replacement.
JCP will be suspended for 50 days from Jan. 7, and SCP will be closed for 36 days from Jan. 13, according to a Tadawul declaration.
SIIG’s other tasks will continue operations as regular.
The turn-around was described in SIIG’s 2022 board report.
The monetary effect of this turn-around will appear in the business’s Q1 2024 financials.
It is tough to approximate the monetary effect of this shutdown at this time, due to the altering costs of the items offered, SIIG included.