FFC shuts down plant for 20 days due to maintenance

MG News | October 10, 2022 at 03:49 PM GMT+05:00

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October 10, 2022 (MLN): Fauji Fertilizer Company Limited (FFC) on Monday shut down its Plant-I for a period of 20 days as part of its scheduled maintenance, filings on the stock exchange showed on Monday.

“FFC’s Plant-I maintenance activity commenced today, Oct 10, 2022, and the total duration of the activity is 20 days. The purpose of this activity is to ensure long-term reliability and sustainability of safe operations of the plant,” the company said in a press release.

FFC is set to announce financial results for 3QCY22 wherein it is likely to see a decline in profits-after-tax due to lower offtakes of urea and DAP by 26%YoY and 93%YoY to 0.5 million tonnes and 3,000 tonnes respectively.

The decline in sales is likely on account of higher DAP prices, rising inflationary pressure and floods in the country.

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