Fauji Fertilizer Company Limited (FFC) (Urdu: فوجی فرٹیلائزر) is a Pakistani fertilizer manufacturer based in Rawalpindi. It is a subsidiary of the Fauji Foundation.[2]
 | |
| Company type | Public |
|---|---|
| PSX: FFC KSE 100 component KSE 30 component | |
| Industry | Chemicals |
| Founded | 1978 |
| Headquarters | Rawalpindi-46000 , |
Number of locations | Rawalpindi, Sadiqabad, Mirpur Mathelo |
Key people | |
| Products | Fertilizer, Urea |
Production output | 7000+ MT/day |
| Revenue |  Rs. 181.382 billion (US$630 million) (2023) |
| Rs. 63.024 billion (US$220 million) (2023) | |
| Rs. 46.511 billion (US$160 million) (2023) | |
| Total assets |  Rs. 326.921 billion (US$1.1 billion) (2023) |
| Total equity | Rs. 150.083 billion (US$520 million) (2023) |
| Owner | Fauji Foundation (44.35%) |
Number of employees | 3,209 (2023) |
| Parent | Fauji Foundation |
| Subsidiaries | FFC Energy Limited Foundation Wind Energy – I Limited Fauji Fresh 'n' Freeze Limited Olive Technical Services Foundation Wind Energy – II Limited (79.99%) Askari Bank (43.15%) Thar Energy Limited (30%) Fauji Foods (18.45%) Pakistan Maroc Phosphore (12.5%) Fauji Cement (4.29%) |
| Website | ffc |
| Footnotes / references Financials as of 31 December 2023[update] [1] | |
FFC produces various fertilizers which include urea, DAP, SOP, MOP, Boron (Di-Sodium Tetra Borate Decahydrate) and Zinc (Zinc Sulfate Mono-hydrate) using subsidised gas supplied by Mari Petroleum.[3]
History
editFauji Fertilizer Company Limited (FFC) was incorporated in 1978 as a joint venture between Fauji Foundation and Haldor Topsoe of Denmark. The first urea complex was commissioned in 1982 in Sadiqabad, Punjab. A second plant was built at the same location in 1993.[4]
In 2002, FFC acquired Pak Saudi Fertilizers Limited urea plant from the National Fertilizer Corporation, for PKR 8.151 billion (PKR 135.85 per share) under a privatisation process of the Government of Pakistan.[5][6]
In 2012, FFC commissioned a wind farm project with a capacity of 49.50 MWh.[7]
In 2013, FFC acquired 43.15 percent equity stake of Askari Bank (AKBL) with a total investment of Rs. 10.46 billion.[8] In October 2013, FFC also acquired Al-Hamd Foods Limited and later renamed it as Fauji Fresh 'n' Freeze Limited.[9]
In 2018, FFC expanded entered in a joint venture with Hubco by investing US$39 Million in Thar Energy Limited (TEL) for an equity share of 30 percent.[10]
Plants
edit
FFC-I
editFauji Fertilizer established its first urea plant, FFC I, in Sadiqabad in 1979.[11] The plant had a production capacity of 570,000 tons per annum (TPA) and an initial construction cost of US$303 million.[11] The plant was supplied by Haldor Topsoe and was commissioned in 1982 after an additional investment of US$15 million.[11]
As of 2024, FFC-I has a capacity to produce 403,000 TPA of ammonia and 695,000 TPA of urea.[12]
FFC-II
editFFC II was commissioned in March 1993 with a capacity of 635,000 TPA at a total cost of US$328 million.[11] FFC II plant was supplied by Snamprogetti.[11]
As of 2024, FFC-II has a capacity to produce 363,000 TPA of ammonia and 635,000 TPA of urea.[12]
FFC-III
editFFC-III is a urea plant located near Mirpur Mathelo on the Punjab-Sindh border in northern Sindh, Pakistan.[13] The plant was established as a joint venture between the governments of Pakistan and Saudi Arabia.[13] It operated under the National Fertilizer Corporation (NFC) as a fully owned subsidiary and was known as Pak-Saudi Fertilizer until 2002.[13] The plant was commissioned in October 1980 at a cost of PKR 2.08 billion.[14] In 2002, Fauji Fertilizer acquired Pak Saudi Fertilizer urea plant from the National Fertilizer Corporation, for PKR 8.151 billion under a privatisation process of the Government of Pakistan.[15] It has an annual urea production capacity of 557,000 tons.[13]
FFC-III plant sources its natural gas from the nearby Mari gas field, operated by Mari Petroleum, which is jointly owned by the Government of Pakistan and the Fauji Foundation.[13]
As of 2024, FFC-III has a capacity to produce 413,000 TPA of ammonia and 718,000 TPA of urea.[12]
FFC Bin Qasim
editFFC founded FFC Bin Qasim as a separate entity in 2000 and named it FFC-Jordan Fertilizer Company Limited. Later, it was renamed as Fauji Fertilizer Bin Qasim Limited. The plant had an annual capacity of 551,000 metric tons of urea and 445,500 metric tons of DAP which was later revamped to 670,000 metric tons of DAP.[16]
Sui Southern Gas Company supplies gas to FFC Bin Qasim at the market rate.[3]
Associates
editAgritech
editAgritech Limited, formerly Pak-American Fertilizers, was the first nitrogenous fertilizer plant established in Pakistan. Commissioned in 1958, it initially had a production capacity of 50,000 metric tons per annum (MTPA) of ammonium sulfate, utilizing indigenous coal and gypsum as raw materials. In 1968, the production capacity was increased to 90,000 MTPA. The plant is located approximately 50 kilometers north of Mianwali.[17]
As of October 2024, Fauji Fertilizer holds 27.77 percent stake in Agritech.[18]
Gallery
edit-
FFC Township Mosque -
Plantsite Admin Building
References
edit- ^ "FFC Annual Report 2023" (PDF). ffc.com.pk. Retrieved 27 March 2024.
- ^ Mangi, Faseeh; Anthony, Augustine (July 9, 2014). "Pakistan's Fauji Fertilizer Plans Africa Plant". Bloomberg.
- ^ a b "Fertilizer future prospects shine". DAWN.COM. January 7, 2002.
- ^ "FFC: The largest urea manufacturer in Pakistan". Business Recorder. 15 January 2013.
- ^ Hussain, Dilawar (March 18, 2002). "Is there too much on PC's plate?". DAWN.COM.
- ^ "FFC wins bid for Pak Saudi Fertilizer". DAWN.COM. March 10, 2002.
- ^ "Wind project to start power production in November". The Express Tribune. September 4, 2012.
- ^ Hussain, Dilawar (February 10, 2013). "Fauji acquires Askari Bank". DAWN.COM.
- ^ "FFC acquires Al Hamd Foods". The News International.
- ^ "Fauji Fertilizer to inject $39m into Thar Energy". The Express Tribune. April 3, 2018.
- ^ a b c d e "Corporate finance in Pakistan: Case studies from an emerging market". [Karachi]: Oxford University Press: Lahore University of Management Sciences. May 13, 1999 – via Internet Archive.
- ^ a b c "Manufacturing plants".
- ^ a b c d e "Corporate finance in Pakistan: Case studies from an emerging market". [Karachi]: Oxford University Press: Lahore University of Management Sciences. May 13, 1999 – via Internet Archive.
- ^ "Corporate finance in Pakistan: Case studies from an emerging market". [Karachi]: Oxford University Press: Lahore University of Management Sciences. May 13, 1999 – via Internet Archive.
- ^ "FFC wins bid for Pak Saudi Fertilizer". Dawn. March 10, 2002.
- ^ Company profile and stock quote of Fauji Fertilizer Company Market Screener.com website, Retrieved 20 May 2021
- ^ Research, B. R. (May 30, 2024). "Agritech Limited". Brecorder.
- ^ "Fauji Fertilizer acquires additional stake in Agritech Limited for Rs3.9bn". Brecorder. October 16, 2024.