Further to the Companys announcement on 04/08/2013G corresponding to 27/09/1434H related to the operation and production of Sahara and Maaden Petrochemical Company (SAMAPCO).
Maaden announces that on Thursday 30th of Jan. 2014 (SAMAPCO) has completed the Performance Test of running the plant at full capacity for 72 hours continuously. The test was performed by the team representing the Company, financial institutions represented by license technology and technical advisors, as well as representatives of the main projects contractor. The project is expected to start the commercial operation by the second quarter of 2014.
Please note that there is no material financial impact before the starting of the commercial operation.
Any additional information will be announce in due time.
SAMAPCO is a limited liability company, jointly owned 50:50 by Maaden and Sahara.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.