BASIC CHEMICAL INDUS

1210
End-of-day quote. End-of-day quote  - 11/28
36.5SAR -4.82%

Basic Chemical Industries Co. Announces an Update on Commencement of Work for Jubail Project as Well as A Change in Project Costs from SAR 685 Million to SAR 750 Million

06/07/2021 | 08:18am
Basic Chemical Industries Company announced the latest developments of the project to produce chlorine and its derivatives in Jubail Industrial City and also a change in project implementation costs from SAR 685 million to SAR 750 million Commencement of work for Jubail project as well as a change in project costs from SAR 520 million to SAR 685 million. Event's Expected Completion Date is end of November 2021. The technical and engineering details were delayed and the construction was significantly delayed due to the Corona Covid-19 pandemic. A change in the project costs from SAR 685 million to SAR 750 million. The reasons for the increase in costs are due to the addition of some facilities necessary for the project and the high cost of construction for the project as a result of the high cost and the difference in some measurements and engineering details.
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