JEDDAH: Saudi International Petrochemical Co. (Sipchem) said operations resumed on Wednesday at its affiliate's methanol plant after nearly six weeks of scheduled maintenance.

Sipchem affiliate International Methanol Company (IMC) conducted repairs and maintenance as well as improvements to several critical operating processes at the plant, the company said in a bourse filing.

Based on the shutdown from Nov. 1 to Dec. 15, the financial impact is estimated to be SR45 million ($12 million), which will be reflected in its fourth-quarter earnings, Sipchem said.

Sipchem owns 65 percent of IMC, while a Japanese consortium owns the rest.