FACT still in red despite high production

FACT still in red despite high production
ENS ECONOMIC BUREAU

KOCHI, APR 29: The public sector Fertiliser and Chemicals Travancore Ltd (FACT) has incurred a loss of Rs 47.9 crore in 1999-2000 as against Rs 48.26 crore last year. The loss would have higher but for the good performance in caprolactam.

Caprolactam production touched an all-time high of 50,723 tonnes with a capacity utilisation of 101 per cent as against the earlier best of 94 per cent in 1995-96. The production of ammonium sulphate and urea were also good compared to the previous year.

FACT posted a highest ever sales turnover of Rs 1,605 crore, including subsidy in 1999-2000. This a 26 per cent increase over Rs 1,271 crore during the corresponding period last year.

The company has chalked out plans for diversification in the coming years, Rai said. Explaining FACT's future plans, he said steps are afoot to set up a Rs 103-crore sulphuric acid plant soon. The company has also asked the Centre for assistance to pull itself out of the red, Rai said. FACT has also urged the Centre for waiver of the Rs 376-crore interest burden, he added. The company has already received a plan outlay of Rs 80 crore from the centre as against Rs 40 crore last year.

FACT's marketing division achieved a sales turnover of Rs 1,585 crore, of which Rs 1,238 crore was for fertlisers and Rs 347 crore for caprolactum. The sale of caprolactum touched a new high of 50,237 tonnes.

Meanwhile, the FACT Engineering and Design Organisation (FEDO) clocked a profit of Rs 15 lakh during the year. Turnover stood at Rs 13.4 crore as against Rs 11.26 crore in the previous year. The FACT Engineering Works (FEW) too earned a cash profit of Rs 8.48 lakh during the year.