AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

Phosphoric Acid, being the main raw material for DAP production is being imported from Morocco. To ensure the continuous supply of this strategic raw material to run our DAP plant at Karachi, Office Cherifien des Phosphates (OCP), Morocco, the biggest industrial group of Kingdom of Morocco and the Fauji Group
(Fauji Foundation, FFC and FFBL) entered into a joint venture for its uninterrupted supply. The company, named as Pakistan Maroc Phosphore S.A(PMP) costing 2030 million Moroccan Dirhams
(US $ 250 million) was formed at Morocco. The project has successfully been completed in record time and within the budget. Commercial production and shipment to FFBL started in April 2008 and May 2008 respectively. Plant is designed to produce 375,000 MT per year of Phos acid thus meeting the total requirement of DAP plant of FFBL. Surplus acid shall be sold in the international market.
The Project is one of its kinds with strategic significance of involving two of the largest business groups of two brotherly Muslim nations ie, Fauji Group of Pakistan and OCP Group of Morocco. Its formal inauguration was performed by His Majesty the King of Morocco in October 2008. Dignitaries from Pakistan also attended the ceremony.
Significant benefits associated with this project are:
Production of 375,000 metric tons of phosphoric acid per annum will not only ensure un-interrupted supply of raw material, catering the entire post-BMR demand of DAP requirement of FFBL, but would also be a source of profit in the form of selling out the surplus production. This, in turn will enhance FFBL earnings in the form of dividends.
This is the first ever foreign investment by the Fauji Group. Apart from its imminent contribution towards economic growth of Pakistan, it has added to the prestige of the Country. May also prove a gateway for others to invest in the international market. Long-term raw material supply guaranteed in an extremely turbulent international market.

Copyright Business Recorder, 2010

Comments

Comments are closed.