Engro Fertilizers to Shut Down Port Qasim Plant Till June 30

Engro Fertilizers Limited (PSX: EFERT) has decided to shut down its plant at Port Qasim from June 5 to June 30 (both days inclusive), the company informed the Pakistan Stock Exchange on Friday.

In a stock filing, EFERT said the plant, which produces specialty fertilizers with an annual capacity of around 150,000 tons, will be shut down to more efficiently manage its inventory and productions.

“Notwithstanding the temporary closure, the Company intends to meet the projected demand for the products manufactured at the Plant,” it added.

EFERT is a major player in Pakistan’s fertilizer industry that has a significant impact on the agricultural sector. The above-mentioned shutdown of the company’s base plant has raised concerns about fertilizer supply and the impact on agriculture while the unit remains closed.

EFERT’s scrip at the bourse closed at Rs. 85.46, down by 0.66 percent or Rs. 0.57 with a turnover of 251,647 shares on Friday.

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