AL-KHOBAR – An affiliate of Saudi International Petrochemical Co (Sipchem) restarted butanediol production on Monday after scheduled maintenance, Sipchem said.
The International Diol Co plant, which has an annual capacity of 75,000 tonnes, was shut from Aug. 29 to improve the efficiency of operations.
Sipchem had projected losses due to the shutdown at 8 million riyals ($2.1 million). It did not give an updated figure in a Saudi bourse filing on Monday. Sipchem made a profit of SR244.6 million in the three months to June 30, up from SR174.0 million in the prior-year period.
Meanwhile, Viva Bahrain, the country’s No.2 telecom operator by income, expects data to account for at least half of revenue within two years – from a quarter now – as it seeks to counter a decline in conventional calls and texts, its chief executive told Reuters.
Viva – owned by Saudi Telecom Co (STC), the Gulf’s biggest telecoms company by market value – launched in Bahrain in 2010.
It became a third player in the small island’s already saturated market, but managed to win customers by undercutting rivals, analysts said.
Operators’ average revenue per user (ARPU) is falling in Bahrain, in line with global trends. — Reuters