One of Africa’s leading fertiliser and agro-allied company, Notore Chemical Industries Plc has announced the reason for shutting down it’s 500,000MTPA capacity fertilizer plant.
This was disclosed in a statement released to the Nigerian Stock Exchange, NSE in Lagos, titled ‘RE: NOTORE CHEMICAL INDUSTRIES PLC. – NOTIFICATION OF THE COMMENCEMENT OF TURN AROUND MAINTENANCE ON FERTILISER PLANT’ and signed by the Group Chief Legal Officer/Company Secretary, Mrs. Otivbo Saleh.
The company explained that Notore Chemical Industries Plc’s Fertiliser Plant has commenced the Turn Around Maintenance (TAM) of the Plant, hereby requiring it’s shut down.
“The objective of the TAM is to return the Plant to its 500,000MTPA nameplate capacity and improve the reliability index to 95%.” It stated.
Further explaining the importance of TAM, the company stated that “Upon completion, we expect a significant improvement in the Plant’s reliability index and a sustained daily production output of 1,500MT.
“Attaining this level of production will guaranty improved cash flow, increase in annual revenue as well as return the Company to profitability”, it added.
Disclosing the date the TAM would be completed, the company said, “Although disruption to global businesses occasioned by the COVID-19 pandemic and its attendant restrictions by Governments all over the world affected the timely delivery of procured spares and the arrival to site of Vendor Service Men (VSM), the TAM is still on course and barring any unforeseen circumstance, it should be completed on 8th March 2021.”