Sahara International Petrochemical Co. (Sipchem) has a solid financial position, as it is set to repay SR1 billion ($266 million) worth of Sukuk next year while maintaining its financial capabilities, said CEO Saleh Bahamdan. Speaking to CNBC Arabia, the top official expected the company to post strong financial results in the fourth quarter of 2020, as selling prices started to improve. He also predicts the petrochemical industry to witness strong performance in 2021. Bahamdan also noted that Sipchem would temporarily suspend operations of two plants due to their weak returns and sales, adding that the plants may be reopened when the market improves. He also stressed that Sipchem is focusing on affiliates that operate in solid markets.