HomeMarket NewsIFGL Refractories halts LPG operations at Kandla plant amid supply disruption
IFGL Refractories Ltd has temporarily halted operations requiring liquified petroleum gas (LPG) at its Kandla manufacturing facility in Gujarat due to disruption in LPG supply amid the ongoing conflict in the Gulf region.
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IFGL Refractories Ltd has temporarily halted operations requiring liquified petroleum gas (LPG) at its Kandla manufacturing facility in Gujarat due to disruption in LPG supply amid the ongoing conflict in the Gulf region.
The company said, on Friday, March 20, the disruption follows a direction from the Government of India to oil marketing companies to prioritise LPG supply for domestic consumers. The affected operations are located at its facility in the Kandla Special Economic Zone in Kutch district.
The management said it is closely monitoring the situation and taking steps to mitigate the impact, which it described as beyond its control. It added that efforts are being made to ensure timely supplies to customers to the extent possible.
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The company said it is currently unable to quantify the impact of the disruption on its production, operations or financial performance, noting that the situation is expected to affect major players in the refractory industry as well.
IFGL Refractories Ltd shares ended at ₹145.27 on the NSE, down ₹0.73 or 0.50% on March 20.
Earlier on February 19, the firm had informed that it has commenced a new production line for plastic refractories at its Visakhapatnam manufacturing facility, using technical know-how from its UK-based subsidiary, Sheffield Refractories Ltd.
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The project involves a capital outlay of about ₹2.10 crore, largely funded through internal accruals, and adds an installed capacity of 10,000 metric tonnes per annum, as per the company.
