Engro Polymer & Chemical Limited (EPCL) (اینگرو پولیمر اینڈ کیمیکل لمیٹڈ) is a Pakistani polymer manufacturing company which makes and markets Vinyl chloride allied products like PVC.[3] It is a subsidiary of conglomerate the Engro Corporation.[4] The company has more than 70 percent local market share.[5]
 | |
| Company type | Public Subsidiary |
|---|---|
| PSX: EPCL | |
| Industry | Chemical |
| Founded | 1997 |
| Headquarters | Harbour Front Building, Clifton, Karachi-75600, Pakistan |
Key people | ABDUL QAYOOM (CEO ) |
| Rs. 66 Billion (2023) | |
| Parent | Engro Corporation (56.19%)[1] Mitsubishi Corporation (10.24%)[2] |
| Website | engropolymer |
History edit
Engro Polymer & Chemicals was founded in 1997 as part of Engro Chemical Pakistan.[6]
In November 1997, the company entered into a joint venture agreement with Mitsubishi Corporation and Asahi Glass Company to build a polyvinyl chloride (PVC) manufacturing plant.[6] The $80 million project was financed with $37 million in equity and $39 million in long-term debt.[7] Engro contributed 50 percent of the equity ($18.5 million), Asahi 30 percent ($11.1 million), and Mitsubishi 20 percent ($7.4 million).[7] Foreign currency debt of $28.5 million came from the International Finance Corporation and CDC, while local currency debt of $10.5 million and working capital of $4 million were provided by various Pakistani and international banks.[7] The facility was constructed at Port Qasim, in close proximity to the city of Karachi.[6] The plant was engineered to produce 100,000 tonnes of suspension grade PVC resin per year.[6] The production of PVC at the facility began in 1999.[6]
In 2008, Engro Polymer was listed on the Karachi Stock Exchange, following an initial public offering.[8]
In August 2018, Engro Polymer announced that the company would set up a new plant to expand the production of PVC and caustic soda. Along with an efficiency project suhc as de-super heating quenches at EDC/VCM plant.[5]
References edit
- ^ Hussain, Dilawar (November 30, 2015). "Engro shedding its loss-making business". DAWN.COM.
- ^ Correspondent, Our Equities (November 25, 2015). "Engro Polymer target of acquisition". DAWN.COM.
- ^ "Engro Polymers & Chemicals Limited". January 16, 2019.
- ^ "Engro Polymer and Chemicals Limited". Business Recorder. 25 June 2021. Retrieved 6 August 2021.
- ^ a b "Engro Polymer, Tianchen China sign contract to set up plant". The News International.
- ^ a b c d e "PAKISTAN: Engro announces PVC venture".
- ^ a b c "PAKISTAN: Engro signs joint venture for PVC plant".
- ^ "Engro Polymer".
 | This Pakistani corporation or company article is a stub. You can help Wikipedia by expanding it. |