Misr Fertilizers Production Company (MOPCO) said its natural gas intake has been further reduced, bringing the total supply cut to 33%, compared with a 20% reduction reported just a week ago. The company said it had been notified of the new reduction, stressing that its operations and production processes are being managed in line with the available gas volumes to ensure business continuity, according to a company filing to the Egyptian Stock Exchange (EGX).
The company also reaffirmed its commitment to disclosing any material developments in due course, in accordance with EGX disclosure requirements.
The development comes less than a week after several fertilizer producers said their natural gas supplies were slashed by 20% as rising import costs put pressure on gas availability.
MOPCO is one of Egypt’s largest nitrogen fertilizer producers, specializing in the production of granular urea and ammonia. Established in 1998, the company operates an integrated fertilizer complex in Damietta Public Free Zone, comprising three production plants with an annual urea production capacity of approximately 2 million tons.
