An affiliate of Saudi International Petrochemical Company (Sipchem) has restarted a methanol plant after scheduled maintenance, Sipchem said in a bourse filing.

The plant, which produces 967,000 tonnes of methanol per annum, was shut on November 3 for three weeks for maintenance and repairs.

The International Methanol Company (IMC) is 65 per cent owned by Sipchem, while a group of Japanese companies hold the rest.

Sipchem did not give an updated figure on the losses it would incur due to the outage in Wednesday's filing. It had estimated losses of SR35 million ($9.3 million) for the closure in its previous statement.  - Reuters