Kribhco Chairman Dr Chandra Pal Singh Yadav inaugurated the newly built Ammonia Storage Tank of Kribhco Fertilizers Ltd (KFL) at Shahjahanpur in Uttar Pradesh on Friday. Today, that is on Saturday, he will inaugurate the railway siding that exists inside the factory complex, sources said.
Kribhco Fertilizers Limited (KFL) is a wholly owned subsidiary of Kribhco, which owns and operates a gas-based Fertilizer Complex at Shahjahanpur, U.P. Yadav is also the Chairman of KFL.
On this occasion, Kribhco Vice-Chairman Sudhakar Chowdary, Director Paresh Patel, Managing Director Rajan Chowdhry and other representatives from KFL were present. Ravi Kumar Chopra is the Managing Director of KFL.
KFL has been doing well year after year. It bears recall that recently KFL gave a dividend cheque of over Rs 25 crore to the Kribhco Chairman Dr Chandra Pal Singh Yadav in the presence of its MD Rajan Chowdhry.
Kribhco’s AGM date for this year has not been announced yet. The co-op behemoth is busy finalizing its accounts. Sources said the co-op could have earned impressive profit yet again but for the DAP.
It bears recalling that the government has announced a massive reduction in subsidies for DAP (Diammonium Phosphate) and MOP (Muriate of Potash) fertilisers. The rate of DAP had been reduced from Rs 48433 to 32641 per tonne for this season, leading to huge reduction. Those companies and cooperatives which earlier stocked DAP from the international market are facing a fund crunch on this account, said a source.
Sources add that though Kribhco had bought DAP from the international market, IFFCO did not do the same. IFFCO’s upcoming indigenous Nano DAP has stood it in good stead, added a source on condition of anonymity.
