Engro Polymer and Chemical compounds Restricted has introduced that it might enter the Hydrogen Per Oxide enterprise by a greenfield manufacturing facility.
In a notification despatched to the Pakistan Inventory Alternate (PSX), Engro Polymer and Chemical compounds stated its board of administrators introduced to enter Hydrogen Per Oxide enterprise by a greenfield manufacturing facility with a CAPEX of $23 million.
The challenge will probably be funded by inside money era.
The notification learn “Engro Polymer & Chemical compounds Restricted derives hydrogen as a part of its caustic manufacturing course of. At present, hydrogen is essentially getting used as gas which isn’t one of the best worth creation for hydrogen.”
The board of administrators additionally directed the administration to judge additional capability growth on this area and/or different avenues of diversification.
Final month, Engro Polymer & Chemical compounds had introduced that it had signed a contract with Tianchen Corp China (TCC) for an built-in manufacturing facility with an annual capability of 100,000 MT each year for capability growth of its PVC plant.
In continuation of the disclosure offered by Engro Polymer and Chemical compounds on December 28, 2017, the place the corporate had introduced approval of a capability growth of PVC manufacturing.
EPCL script on the PSX was buying and selling at Rs 32.75, up by Rs 0.24 or +0.74% with a turnover of 6.12 million.