Agritech halts Urea production amid RLNG absence

MG News | January 04, 2023 at 11:51 AM GMT+05:00

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January 04, 2023 (MLN): Agritech Limited (PSX: Agritech) will unable to produce Urea from January 4, 2023, amid the gas suspension from Sui Northern Gas Pipelines Limited ("SNGPL"), the company’s filing on PSX showed today.

On January 03, 2023, SNGPL informed the company that RLNG supply at the company's Urea Plant will be suspended from 0000 hrs of January 04, 2023, and will continue until further instructions.

This is in accordance with the Cabinet's ECC decision made on January 03, 2023.

As a result, the company will be unable to produce Urea during this time period and plans to resume plant operations as soon as RLNG supply is restored by SNGPL.

At the time of this writing the scrip of company shares were traded at Rs5.25 and at high of 3.96%.

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