Ending four years of uncertainty, the Fertilisers and Chemicals Travancore Limited (FACT) has resumed caprolactam production to boost its financial prospects.
The resumption of production comes at a time when the demand for the compound is high in the country. Elaborating on the road map ahead and the achievements of FACT, Chairman and Managing Director Jaiveer Srivastava said the first phase of caprolactam production would be over in 25 days.
“The plant has a capacity to produce 50,000 tonnes of the organic compound. The demand for caprolactam in the country is around 1.3 lakh tonnes, and the compound produced at FACT continues to be in great demand, as it adheres to all international quality standards,” he said.
Maintaining that the company was “operationally sound”, Mr. Srivastava said its eight plants were operational. “It will help us generate more employment, both direct and indirect, and more business,” he added.
The CMD said the board had given its nod for the revised revival package for the company. “The proposal is pending before the Ministry of Finance. The most important feature of the revival package is that we are not asking for money, except waiver of interest on previous loans,” he added.
Quoting figures, Mr. Srivastava said the company could raise factamfos production to 3.90 lakh tonnes as against the target of 3.30 lakh tonnes set by the Department of Fertilisers during the first half year of the current fiscal.
Caprolactam produced at FACT continues to be in great demand, as it adheres to all international quality standards.
Jaiveer Srivastava,
Chairman and Managing Director,
FACT
