Karachi: As required by the material information disclosure of the Listing Rules, we are pleased to inform you that the supply of gas to our Plant stopped on 12th April 2011 has been partially restored by SNGPL and the plant is now operating at around 70% capacity.
The Supply of Limited additional gas, enough to run the plant at 80% capacity has been offered under a scheme of arrangement, approved by the Economic Coordination Committee, whereby the balance gas will be diverted from the IPPs to the Fertilizer Sector and the IPPs will be compensated for the alternate fuel cost differential jointly by the Fertilizer Sector (2/3rds) and the GOP (1/3rd). This will be implemented as soon as the documentation and other formalities in hand are completed. The Scheme will be valid up to 30th June 2011.
For more information, contact:
Aftab Ahmed Qaiser
Dawood Hercules Chemicals Limited
35-A, Empress Road,
Tel: +9242 6301601-07