Premier Imran Khan has inaugurated Engro Polymer & Chemicals (EPCL), a subsidiary of Engro Corporation new 100,000-tonne PVC III Plant, which will allow PVC import substitution and enhance exports.
EPCL is Pakistan’s only fully integrated chlorvinyl chemical complex and PVC producer, having opened in 1997 as a joint venture with Mitsubishi and Asahi Glass.
Since 2015, the Company has spent more than $188 million on plant expansion and other upgrades to improve efficiency, dependability, and diversity of activities.
Since 2015, the Company has spent about $188 million on plant expansion and other upgrades to improve efficiency, dependability, and diversity of activities.
The International Finance Corporation (IFC) provided up to $50 million in finance for the Plant expansion, which took advantage of global project execution skills from a Japanese licensor and a Chinese construction team.
EPCL can now produce 295,000 tonnes of PVC per year, fully meeting local demand and achieving exports, thanks to increased capacity added as a result of the government’s favourable construction sector regulations.
EPCL will now contribute roughly $ 240 million to import substitution through increased local production, while the company has shipped PVC resin worth $ 25 million to Turkey and the Middle East markets in 2021.
According to Ghias Khan, President & CEO of Engro Corporation and Chairman of EPCL, “As a home-grown conglomerate, Engro has always strongly believed in the economic potential of Pakistan and, therefore, we have committed to invest in businesses that help solve some of the most pressing issues of Pakistan.
This expansion is a landmark achievement for Engro, and we are confident that it will reshape the petrochemicals landscape of Pakistan. We fully support the Government’s ‘Make in Pakistan’ policy to promote export-oriented industrialization.
I would like to thank our local teams, global partners, and Government stakeholders, for showcasing exemplary resilience and collaboration for completion of this expansion, despite the challenges posed by COVID-19.”
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