At AlKimia, production as at March 31, 2024 reached 4,607 tons, divided into 2,600 tons of sodium tripolyphosphate and 2,007 tons of crystalline MAP, compared with 7,126 tons of STPP produced in the first quarter of 2023, down 34.35%.
This level of production is explained by the fall in demand for STPP on the international market and the loss of major customers following the various declarations of force majeure by Groupe Chimique Tunisien, which have led to the forced closure of production units over the last seven years due to a shortage of phosphoric acid.
In addition, the 27.19% fall in turnover compared with the first quarter of 2023 is explained by lower sales volumes, due in particular to the over-invoicing of the two main raw materials, phosphoric acid and ammonia, by the Tunisian chemical group, which has made the company uncompetitive vis-à-vis competitors who have access to these raw materials under normal and more favorable market conditions.
The Extraordinary General Meeting held on January 25, 2024 validated and confirmed the decision taken at the Extraordinary General Meeting held on December 29, 2022 to increase the Company’s capital by 20,000,000 dinars.
This increase will be fully implemented and completed shortly and within the legal deadlines.
This capital increase will allow the launch of the first phase of the company’s restructuring plan, which involves the conversion of the U-1500 unit to produce 160,000 tons of NPK (80,000 tons of powder and 80,000 tons of granules).
The technical studies are already underway and once the capital increase has been completed, the equipment will be ordered and the work will begin.
This plant should be able to produce the 80,000 tons of powdered product in the first quarter of 2025 and the granulated part will be operational at the beginning of the third quarter of 2025 to produce the additional 80,000 tons of granulated NPK.
