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National Day of Oman: Engro Chemical Pakistan to go International             
 BY Mohammad Ali Khaskheli

National Day of Oman: Engro Chemical Pakistan to go International : Pakissan.com
For over three decades, Engro Chemical Pakistan Limited has been in agri business and its products marketed under the brand name Engro have become a household name in the agriculture sector of Pakistan.

The company is one of the large urea fertiliser producer of the country with production capacity of 850,000 tons per annum.

Engro enjoys a market share of 20% of the country's total fertiliser market.

From the inception to the company until 1991, the majority share was Exxon Corporation of USA who owned 75% of the stock.

In 1991 the Company underwent an employee led buyout the first in the corporate history of Pakistan.

And the present shareholders are the employees, an employees trust, local and foreign institutions including mutual funds and the general public.

Following the buyout, the Company embarked upon major programs to grow and diversify its businesses.

It made a sizeable investment of US$250 million to grow its urea business. Aside from that it has set up two joint ventures with leading international companies.
 

 

These joint ventures are Engro Vopak Terminal Ltd. and Engro Asahi Polymer & Chemicals Ltd.

In addition the Company has broadened its fertiliser product slate by setting up a new plant at Port Qasim Karachi, to produce 100,000 tons of granulated NPK fertilisers with different crop specific grades to suit the farmers requirement of balanced fertilisation.

Engro also markets high quality hybrid and open pollinated seeds under the brand name "Bemisal".

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After it's successful experience of joint ventures in Pakistan, the Company recently announced it's intention to venture overseas. The country it has selected for it's first investment is Oman.

In this regard the Company recently signed an MoU to set up an 850,000 tons p.a. Ammonia-Urea complex in the Sultanate.

The project is premised on utilising Oman's gas reserves and Engro's experience to build and operate fertiliser plants.

Engro's partner in this venture is Oman Oil Company, a premier 100% government owned company which operates on commercial lines.

The partners are targeting to complete the feasibility by middle of 2003. Engro is confident that the project has good fundamentals and prospects.

Engro looks to the future with optimism and confidence. It has set itself a vision "to be the premier Pakistani enterprise with a global reach, passionately pursuing value creation for all stakeholders".

Source: Business Recorder

 

 

 

 

 

 

 

 

 

 

 

   
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