Agritech Limited Suspends Urea Plant Operations Amidst Gas Supply Suspension Due to Cyclone Biporjoy Threat Alert

Karachi, Agritech Limited, in compliance with section 96 of the Securities Act, 2015 and clause 5.6.1 of PSX Regulations, has announced the suspension of its Urea Plant Operations. The suspension, effective from June 13, 2023, is a result of the disruption in gas supply caused by the threat posed by Cyclone Biporjoy, which has hindered the berthing of RLNG (Regasified Liquefied Natural Gas) cargoes and subsequently impacted the flow of RLNG to SNGPL (Sui Northern Gas Pipelines Limited), adversely affecting pipeline pack levels in the SNGPL system.

The decision to suspend Urea Plant Operations was made in response to the unforeseen circumstances caused by the Cyclone Biporjoy threat alert, which has disrupted the availability of RLNG required for the manufacturing process. Agritech Limited, as a responsible corporate entity, prioritizes the safety of its employees and the integrity of its operations, leading to the temporary suspension of production.

The suspension of the Urea Plant Operations is a precautionary measure taken by Agritech Limited to ensure the smooth functioning of the manufacturing process once the RLNG supply is restored. The company is closely monitoring the situation and working diligently to resume operations as soon as the gas supply situation stabilizes.