Engro Corporation Limited’s issue of gas curtailment and load shedding
Karachi, June 20, 2012 (PPI-OT): We refer to our last letter to the Stock Exchanges dated June 18, 2012 (copy attached). As you know the gas curtailment and load shedding is an on-going issue in Pakistan and affecting many different industries. Consequently, we feel there is no benefit in constantly informing the Stock Exchanges about the curtailment/ resumption of gas supplies on a regular basis.
We shall however of course inform the Stock Exchanges if any matter of a more permanent or serious nature occurs.
As required under the material information disclosure provisions of the Listing Rules, we would like to inform you that yesterday SNGPL disconnected the gas supply to the new fertilizer plant of our 100% owned subsidiary, Engro Fertilizers Limited.
We have been assured that SNGPL remains committed to the rotational supply of gas between the four fertilizer plants on their network and consequently Engro’s plant (along with one other) will be provided gas first once it is restored to the fertilizer industry as our 30 days supply was not completed – please refer to our earlier letter dated June 8, 2012, copy attached.
As required under the material information disclosure provisions of the Listing Rules, we would like to inform you that SNGPL has informed us that the gas supply to the new fertilizer plant of Engro Fertilizers Limited, the 100% owned subsidiary of the Company, will start from June 10, 2012 onwards, barring unforeseen circumstances. The four fertilizer units on SNGPL’s system have been divided into two groups and gas will be supplied to each group on rotational basis for 30 days at a stretch.
For more information, contact:
Vice President – Legal
and Company Secretary
Engro Corporation Limited
8th Floor, The Harbour Front Building,
HC-3, Marine Drive, Block 4,
Clifton, Karachi 7560 Pakistan
T: 00 92 (21) 35297501-10
T: 00 92 (21) 111-211-211
F: 00 92 (21) 35870669