Tag: engro

Ahsan Zafar Syed Appointed as President and CEO of Engro Corporation

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Ahsan-Zafar

Engro Corporation proudly announces the appointment of Mr. Ahsan Zafar Syed as its 5th President and CEO, marking a new era of leadership for the company. Mr. Syed, who joined Engro in 1991 as a young engineer, brings over three decades of invaluable experience in operations, project management, and strategic leadership across multiple sectors. During his tenure, Mr. Syed has been instrumental in achieving significant milestones for Engro. Noteworthy among his achievements is the successful execution of the $1.1 billion fertilizer expansion project, showcasing his strategic acumen and operational excellence.…

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Engro announces ending its 16-year presence in Pakistan’s conventional energy sector

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Engro Energy Limited, a subsidiary of Engro Corporation Limited, has finalized a Share Purchase Agreement with Liberty Power Holding (Pvt.) Limited and a consortium for the sale of its thermal energy assets portfolio.The consortium comprises Liberty Mills Limited, Soorty Enterprises, and Procon Engineering through Master Group of Industries. The sale of these thermal assets aligns with Engro’s ongoing efforts to streamline and optimize capital and resource allocation. The Share Purchase Agreement covers the sale of Engro Energy’s entire shareholding in Engro Powergen Qadirpur Limited (EPQL), Engro Powergen Thar (Private) Limited…

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Engro eyes telecom towers, construction materials

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Research predicts company shares to hit Rs490 by Dec 2024 Engro Corporation, a conglomerate of companies, is set to expand primarily in shared mobile phone towers and construction material businesses, anticipating a potential reduction in borrowing costs from banks. The conglomerate’s flagship fertiliser manufacturing project is expected to benefit from the Petroleum Policy 2012, enabling it to pass on the impact of expensive gas to end-consumers. However, Engro is currently in negotiations to sell part of its shareholding in the thermal energy business to Liberty Power, with the deal estimated…

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Ceasing operations in Pakistan: Engro Corporation rejects ‘false’ assertion

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Engro Corporation Limited, one of Pakistan’s largest conglomerates, on Monday rejected ‘false information’ suggesting that the company is considering closing its operations in the country. “In response to recent false information circulating on social media regarding Engro ceasing its operations in Pakistan, we wish to clarify that the same lacks any factual basis, is unfounded and we outrightly reject the assertion,” said Engro in a statement issued on social media platform X, formerly known as Twitter. The company said it remains steadfast in its endeavours to ensure prosperity for Pakistan…

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