Kochi: The Udyogamandal based Fertilisers and Chemicals Travancore Limited (FACT), a Government of India enterprise, has made tremendous improvements in the overall production and sales performance with all time high records of sorts during the current financial year. This was announced by Jaiveer Srivastava, CMD of FACT while addressing a press conference here today.
“The fertilizer plants are running to more than full capacity. The phase 1 start-up of Caprolacatm has begun, after a gap of about four years, using the available intermediate products, namely, Hyam and Anone. Production of other petro-plants associated with Caprolactam will commence in due course. It is a matter of immense pleasure that the company has accomplished excellent levels of production and sales performance during the first half of 2016-17”, the CMD said.
As the Government of India extended a loan of Rs.1,000 crores in March 2016, FACT could tide over its serious working capital constraints to a large extent and resume production of fertilizers to full capacity.
Company could achieve FACTAMFOS production to the level of 3.91 lakh tonnes as against the target of 3.30 lakh tonnes set by the Department of Fertilisers, Government of India (118% of target) during the first half year of 2016-17. Ammonium Sulphate production stood at 0.98 lakh tonnes, which is 111% of the production target.
“It is the team effort of all the employees of the company which helped FACT achieve this performance level even amidst certain interruptions in the supply of LNG. The excellent physical performance is not an indication that FACT has overcome all its problems”, he added. A new production stream of FACTAMFOS at Cochin Division, with 1000 tonnes per day capacity, is the immediate expansion project of the company which is at an advanced stage of consideration.
FACT is gradually overcoming a troublesome period of uncertainty in production and running of its plant. Continuous availability of LNG and other raw material at competent prices together with a good monsoon will help the company achieve the days of past glory.
K P S Nair, Director; Sreenath V Kamath and M Sreekumar, Chief General Managers, were also present.
Kerala Biz News