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FERTILIZER PRODUCER DOUBLES CARBAMIDE PRODUCTION
Business | February 26, 2002, Tuesday // 00:00
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Vratsa-based fertilizer plant Chimco doubled its carbamide output for domestic consumption, the management said. Running at 50% of its production capacity, the company produces 600 tonnes of carbamide every day. Carbamide sells at BGN 332.5 per ton, VAT excluded. Contracts with foreign clients have not been signed since the high price of natural gas makes Chimco's carbamide uncompetitive abroad. Debt-ridden fertilizer maker Chimco restarted production in January due to increased domestic demand. Carbamide production was suspended in November because of outstanding debt to Bulgargas, Bulgaria’s state-owned gas distributor monopolist. The company posted BGN 8 M loss in 2001. It lost USD 5,000 installations froze because of low temperatures.
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