Engro Corporation's Investment in Hydrogen Peroxide Plant Boosts Pakistan's Economy
Key Ideas
- Engro Polymer & Chemicals has commissioned a state-of-the-art hydrogen peroxide plant in Karachi, Pakistan, with an annual capacity of 28,000 tonnes.
- The project received investment from the International Finance Corporation to support local production and reduce import reliance, contributing around $11 million in import substitution.
- The company will market its high-quality hydrogen peroxide solution, PureOxide, under Engro Peroxide (Private) Limited, enhancing local industries and strengthening Pakistan's industrial base.
- The investment of Rs12 billion in the plant signifies Engro Corporation's dedication to growth and belief in Pakistan's economic potential, as stated by its CEO Ahsan Zafar Syed.
Engro Polymer & Chemicals, a subsidiary of Engro Corporation in Karachi, Pakistan, has successfully commissioned a Rs11.7 billion hydrogen peroxide plant. This milestone project, supported by the International Finance Corporation, aims to boost Pakistan's economy by promoting local production and reducing import dependence. With an annual capacity of 28,000 tonnes and utilizing advanced Chematur technology, the plant will enable import substitution of around $11 million. By manufacturing high-quality hydrogen peroxide under its subsidiary Engro Peroxide (Private) Limited, Engro Corporation will enhance local industries, particularly benefiting export-oriented textiles. The PureOxide solution offered by the company boasts a lower carbon footprint and higher energy efficiency due to hydrogen derivation from its caustic manufacturing process. CEO Abdul Qayoom Shaikh highlighted the positive impact on local industries, emphasizing the accessibility of a top-tier product for textile players. President and CEO Ahsan Zafar Syed underscored Engro's commitment to growth with the Rs12 billion investment, showcasing confidence in Pakistan's economic future.