Engro Chemicals to set up new fertiliser plant

Engro Chemicals Private Limited on Monday offered Rs101 million as bid for allocation of 100 million cubic feet per day (mmcfd) gas for setting up a new fertilizer plant near Qadirpur gasfield.

Minister for Industries and Production Jehangir Khan Tareen and Secretary Industries Shahab Khawaja also witnessed the bidding, says a press release. Speaking on the occasion Tareen said that bidding was held in a transparent manner in which four parties including two foreign companies had shown interest.

He said that to make the bidding process transparent for allocation of 100 MMCFD gas for establishment of a new fertilizer plant, the prime minister had constituted a committee. He said only Engro Chemical Private Limited participated in the final bidding and offered Rs101 million.

Minister informed that four companies namely International Petroleum Investment Limited, Orascom Construction Industries Limited, Fauji Fertilizers and the Engro Chemicals were short listed but on the day of final bidding only Engro Chemicals participated in the process.

The minister said that fertilizer plant after completion would produce 1.3 million tonnes urea per annum in the country thus help save a big amount from the import bill. He added this would also help promote agriculture sector and benefit the farmers. The minister for Industries said the fertilizer plant would be on board in three-years.

He hoped that they would establish a state-of-the-art fertilizer plant and play their role in the promotion of the agriculture sector. Chief Executive Officer of Engro Chemicals Asad Omar said the plant would be completed in three years and will produce 1.3 million tonnes urea per annum.

Source: The News