MFL gearing to restart plant

On Wednesday, MFL officials began the spade work for commencing production of urea. Operations were suspended at MFL Manali unit for nearly three-weeks for maintenance purposes.

A top MFL official said that it was a great relief for them as they received Cabinet’s nod to run the plant till gas connectivity was established.

“We operate under a strict regulated regime. Closure and opening of unit resulted in huge loss. By this way, we can plan our schedule in advance,” he said.

Stocks gain Fertilizer stocks surged up to 13 per cent on Wednesday after the Cabinet nod. Shares of SPIC soared 13.07 per cent to Rs.18.60, MFL gained 11.52 per cent to Rs.15 and MCF jumped 7.31 per cent to Rs.56.55 on the BSE.