Solvay expects to restart its Saudi Arabia peroxide joint venture within months.
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May 7 (Reuters) - Solvay Chief Executive Philip Kern said in a conference call on Thursday that the company expects to restart its peroxide unit in Saudi Arabia within the next few months, adding that this timeline will keep the chemicals group within its existing expectations.
Kern added that the unit is located within a larger industrial platform, meaning that Solvay does not control the timing of the restart and will follow the instructions of the platform operator.
He said, "If this continues for a longer period, it will mean that the war has not ended in the next few months, and this will have other repercussions that we will need to assess, not only at the level of the peroxide unit in Saudi Arabia, but at the global level of the world economy."
Production has been halted since mid-March at the Saudi hydrogen peroxide project, a joint venture between Solvay and Sadara Chemical Company, which is itself a joint venture between Saudi Aramco and Dow.
