20000102

FFC-Jordan announces commencement of production

RECORDER REPORT

LAHORE: FFC-Jordan Fertilizer Company Limited (FJFC) has announced the commencement of commercial production with effect from January 1, 2000, says a press release issued here on Saturday.

FJFC`s production facilities at Bin Qasim were capable of producing 1,350 tonnes of DAP fertilizer and 1,670 tonnes of Granular Urea fertilizer a day. The Bin Qasim Complex, Pakistan`s largest non-power sector project in twenty years, cost 400 million dollars to build and four years to bring to fruition.

Major FJFC share holders include Fauji Fertilizer Company Limited (Pakistan`s biggest fertilizer manufacturer with 1.4 million tonnes Sona Urea per year production capacity at Goth Machhi), Jordan Phosphate Mines Company, Fauji Foundation, Commonwealth Development Corporation of the UK, Pak-Kuwait Investment company and the general public.

Lenders to the project include Eximbank, USA; Export Development Bank Canada, KfW Germany; Banque Nationale de Paris France; CDC, UK; ABN Amro Denmark and almost all major local banks.

Marketed by Fauji Fertilizer under the "SONA" brandname,fertilizer from the Bin Qasim complex has widely been acclaimed by farmers, the release added.