Engro Corporation Limited’s Material Information
Karachi: As required by the material information disclosure provisions of the Listing Rules and with reference to our earlier letter of May 19, 2011, copy enclosed, we would like to inform the Exchanges that SNGPL has resumed gas supply to the new fertilizer plant of our 100% owned Subsidiary, Engro Fertilizers Limited. Presently 55 million cubic feet of gas per day (MMSCFD) is being supplied against a contracted quantity of 100 MMSCFD.
Yesterday the Honorable High Court of Sindh in the Petition filed by Engro Fertilizers Limited has ordered that the “Petitioner be supplied between 80-100 MMSCFD till further orders,” It is therefore expected that the gas supply to the Petitioner’s plant will be increased to atleast 80 MMSCFD soon.
As required by the material information disclosure provisions of the Listing Rules, we would like to inform you that late at night on the 17th of May, 2011 Sui Northern Gas Pipeline Limited (SNGTPL) stopped the supply of gas to the new fertilizer plant of our 100% owned subsidiary, Engro Fertilizers Limited, claiming shortages in its system. The Company has filed a contempt of court application against SNGPL in the High Court of Sindh, as the Honorable High Court had earlier ordered on 26th or April, 2011, that the gas supply of our new plant should not be disconnected.
For more information, contact:
Vice President – Legal
and Company Secretary
Engro Corporation Limited
8th Floor, the Harbor Front Building,
HC – 3, Marine Drive, Block 4,
Clifton, Karachi 75600,
Tel: +9221 35297501
Fax: +9221 35810669