Engro Polymer & Chemicals Limited
| File:Engro Polymer & Chemicals logo.png | |
| File:Dolmen Towers Karachi.jpg Engro Polymer's headquarters, located in the Harbour Front Building (left tower) of Dolmen City. | |
| Formerly | Engro Asahi Polymer Chemical Limited (1997–2006) |
|---|---|
| Company type | Public |
| PSX: EPCL KSE 100 component | |
| Industry | Chemical |
| Founded | 1997 |
| Headquarters | Harbour Front Building, Clifton, Karachi-75600, Pakistan |
Key people | Abdul Qayoom (CEO) |
| Products | Caustic soda, polyvinyl chloride, and vinyl chloride monomer |
Production output | PVC: 295 kT per annum Caustic soda: 106 kT per annum VCM: 245 kT per annum |
| Revenue | Decrease Rs. 75.707 billion (US$260 million) (2024) |
| Decrease Rs. 4.386 billion (US$15 million) (2024) | |
| Decrease Rs. −160.583 million (US$−560,000) (2024) | |
| Total assets | Increase Rs. 100.851 billion (US$350 million) (2024) |
| Total equity | Decrease Rs. 27.321 billion (US$95 million) (2024) |
| Owner | Engro Corporation (56.19%)[1] Mitsubishi Corporation (11%)[2] Nadeem Nisar Danka (10%) |
Number of employees | 540 (2024) |
| Parent | Engro Corporation |
| Subsidiaries | Think Pvc Engro Plastisizer Engro Peroxide |
| Website | engropolymer |
| Footnotes / references Financials as of 31 December 2024[update] [3] | |
Engro Polymer & Chemical Limited (Urdu pronunciation: [ɛn.ˈɡɾoː ˈpɒ.lɪ.mər] en-GROW-POL-ih-mər) is a Pakistani polymer manufacturing company based in Karachi, Pakistan.[4] It is a subsidiary of Engro Corporation with a local market share of more than 70%.[5][6]
History
[edit | edit source]Engro Polymer & Chemicals was founded in 1997 as part of Engro Chemical Pakistan.[7]
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.[7] The $80 million project was financed with $37 million in equity and $39 million in long-term debt.[8] Engro contributed 50 percent of the equity ($18.5 million), Asahi 30 percent ($11.1 million), and Mitsubishi 20 percent ($7.4 million).[8] 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.[8] The facility was constructed at Port Qasim, in close proximity to the city of Karachi.[7] The plant was engineered to produce 100,000 tonnes of suspension grade PVC resin per year.[7] The production of PVC at the facility began in 1999.[7]
In 2006, Engro Polymer commissioned a chlor vinyl complex, allowing for in-house production of intermediaries such as vinyl chloride monomer with a capacity of 204,000 tpa and chlorine with a capacity of 94,200 tpa.[9] The expansion project cost approximately $250 million, which included $30 million loan and $20 million equity investment from the International Finance Corporation.[9] It increased its PVC production capacity to 150,000 tons.[10] In the same year, the company was renamed to Engro Polymer & Chemicals Limited after Engro Corporation acquired Asahi Glass stake.[10]
Since 2008, Engro Polymer is listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 18.[11]
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 such as de-super heating quenches at EDC/VCM plant.[6]
References
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