February 14, 2020 (MLN): Engro Polymer and Chemicals (EPCL) has informed Exchange that dueto the ongoing epidemic caused as a consequence of the spread of the Coronavirus in China, the Contractor of the PVC Expansion Project is facing difficulty and challenges in respect of delivering equipment and deploying certain manpower for the Project and is declaring a force majeure event as a consequence of the widespread and deadly Coronavirus.
To recall, EPCL appointed China Tianchen Engineering Corporation as the contractor for the procurement and construction of the Project.
Notwithstanding the above, on-going work is still progressing on the Project and the Company is in constant contact with the Contractor for the purposes of resolving the difficulties and making alternative arrangements.
The company is hopeful that significant disruption will not be encountered by the Project unless the Coronavirus continues to spread or disrupts the operations of the Contractor for an extended period of time.
The company further underlined that the disruption caused by the Coronavirus will not significantly affect the completion of the Project by the expected timeline.
