Prime Minister Imran Khan inaugurated a 100,000-tonne PVC III plant

[ghazi52]

Prime Minister Imran Khan inaugurated a 100,000-tonne PVC III plant.


Prime Minister Imran Khan inaugurated on Friday a 100,000-tonne PVC III plant of Engro Polymer and Chemicals (EPCL), which will enable import substitution of polyvinyl chloride (PVC) and boost exports, a press release said.

Addressing the ceremony, Prime Minister Khan said the government supports the expansion of local businesses in order to ensure import substitution and achieve higher exports.

He urged the business community to focus on import substitution and diversification of the export base to support sustainable economic growth.

A subsidiary of Engro Corporation, EPCL is the only fully integrated chlorvinyl chemical complex and producer of PVC in Pakistan.

The plant expansion took place with up to $50 million financing support from the International Finance Corporation (IFC) and leveraged global expertise in project execution with a Japanese licenser and Chinese construction team.

EPCL can now produce 295,000 tonnes of PVC per annum. The press release said EPCL will now be contributing around $240m towards import substitution

 

[RealNapster]

Anyone ? Itna sanaata q hy ? Idhr Kay members b GEO news ban Gaye Hy. Ache cheez dikti he ni Kisi ko. Actually ispe click e nu krty.

 

[Muhammad Saftain Anjum]

The press release said EPCL will now be contributing around $240m towards import substitution

Welldone
More such steps should be taken to decrease imports.
Step by step we will succeed in sha Allah

 

[Imran Khan]

lets hope it will effect prices of pvc items in country

 

[S A L M A N.]

Engro is a perfect example of a local company with US-style corporate management practices investing in the country's future. A far cry from the Seth companies who are leeches and rent seekers and do nothing to strengthen the economy and improve livelihoods.

Jahangir Piracha, the CEO of EPCL shared in an interview that for a PVC plant, economies of scale are achieved at a production capacity of 400,000 tons. EPCL is near that mark.

 

[Thorough Pro]

The more we produce, the more jobs we create, reduce imports and potentially increase exports.

 

[Shotgunner51]

Good news! Have read about the history of this company since inception in 1997, very solid and inspirational, could be worthy of good long-term investment.