Nigeria’s leading agro-allied company, Notore Chemical Industries Plc, has said that it has a target to produce 500,000 tonnes of fertiliser output after the company completed its Turn Around Maintenance (TAM) programme.
In its unaudited second quarter report ended march 31 2021 signed by its group managing director, Ohis Ohiwerei, the company said despite suffering several setbacks occasioned by the coronavirus (COVID-19) pandemic, it remained resilient to deliver on its programme.
According to him, “We are pleased to announce the successful completion of the TAM programme. This was a massive undertaking that involved vendors, parts suppliers, VSMs, OEMs from across the globe, and best-in-class engineering companies. Despite experiencing further interruptions to our supply chain and logistics occasioned by the global COVID-19 pandemic emergency, which directly impacted the original anticipated completion date for the TAM, the company remained resilient and overcame the challenges to deliver a successful TAM. This signifies a key milestone to repositioning the Company and turning around its fortunes.”
He added, “The completion of the TAM ushers in a new phase in the company’s growth with a focus on optimisation and profitability. Notore is committed to continuous improvement. We expect a major upturn in the plant’s reliability and production output to meet and sustain its 500,000MT per annum nameplate design capacity. Achieving this level of production output will not only lead to significant increases in the company’s cash flows from operations, but also substantial increases in revenues annually. It is worth noting that a sizeable portion of the additional post-TAM revenue will contribute straight to the company’s bottom line, a major key to returning the company to profitability.”
He said the production and sale of Notore NPK fertiliser into the domestic market also contributed to the revenue, adding that with the ramp up of NPK production, Notore expects substantial NPK production and sales during the 2021 financial year.