Ctg Urea Fertiliser loses Tk 1.0b due to gas shortage
Thursday, 23 July 2009
Our Correspondent
CHITTAGONG, July 22: Chittagong Urea Fertiliser Limited (CUFL) incurred enormous losses of more than Tk 1.0 billion since the last week of April this year due to crisis of gas-supply that led to suspension of production, sources said.
Gas crisis is persisting in the port city for long with the reduction of drilling for gas in the Shangu. The situation is deteriorating gradually.
Naturally, it has put the gas-based industries in trouble in view of inadequate gas supply.
The CUFL declared provisionally closed on April 26 and the gas used in the factory was diverted to generating power. It led to complete suspension in production of fertiliser in the CUFL.
As a result the CUFL, which is capable of manufacturing 1,500 tonnes of fertiliser, has been facing massive losses.
Such an unhealthy trend if continued, the extent of losses may take a dreadful turn, the CUFL sources said.
According to the sources, although the CUFL authority has approached the government for relaunching the factory, no favourable response has so far been received and the resumption of production in the factory still remain uncertain.
Moreover, Bakhrabad Gas System Limited also remained at a critical stage and as such, the CUFL was not likely to start production shortly, sources added.
CHITTAGONG, July 22: Chittagong Urea Fertiliser Limited (CUFL) incurred enormous losses of more than Tk 1.0 billion since the last week of April this year due to crisis of gas-supply that led to suspension of production, sources said.
Gas crisis is persisting in the port city for long with the reduction of drilling for gas in the Shangu. The situation is deteriorating gradually.
Naturally, it has put the gas-based industries in trouble in view of inadequate gas supply.
The CUFL declared provisionally closed on April 26 and the gas used in the factory was diverted to generating power. It led to complete suspension in production of fertiliser in the CUFL.
As a result the CUFL, which is capable of manufacturing 1,500 tonnes of fertiliser, has been facing massive losses.
Such an unhealthy trend if continued, the extent of losses may take a dreadful turn, the CUFL sources said.
According to the sources, although the CUFL authority has approached the government for relaunching the factory, no favourable response has so far been received and the resumption of production in the factory still remain uncertain.
Moreover, Bakhrabad Gas System Limited also remained at a critical stage and as such, the CUFL was not likely to start production shortly, sources added.