Notore Chemical Industries Plc has notified its shareholders, the Nigerian Stock Exchange and the investing public that the Turn Around Maintenance (TAM) of its Fertiliser Plant has commenced and the Plant has been shut down.
The objective of the TAM is to return the Plant to its 500,000MTPA nameplate capacity and improve the reliability index to 95percent.
Upon completion, the company expects a significant improvement in the Plant’s reliability index and a sustained daily production output of 1,500MT.
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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.
Attaining this level of production will guaranty improved cashflow, increase in annual revenue as well as return the Company to profitability.
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