Karachi, April 11, 2013 (PPI-OT): We are pleased to inform you that Attock Refinery Limited (ARL) has signed Contracts with and Hyundai Engineering Co. Ltd, Korea and Hyundai Engineering Pakistan (Private) Limited on April 11, 2013 for the execution of ARL Up-gradation Project.
The information `Disclosure Form’ as required wider Section 15D (1) of the Securities and Exchange Ordinance, 1969 and Clause (xx) of the Code of Corporate Governance is enclosed.
You may disseminate the information to the Members of the Exchange accordingly.
Disclosure Form
In Terms of Section 15D(1) of the Securities and Exchange Ordinance 1969
Name of Company Attock Refinery Limited
Date of Report 11th April, 2013
Name of Company as
specified in its Memorandum Attock Refinery Limited
Company’s registered office address Refinery Post Office, Morgah, Rawalpindi
Contact information Telephone: 051-5487099 051-5486532
Disclosure of Inside Information by Listed Company in Terms of Section 15D(1)
Award of Contracts for ARL Up-gradation Project
This is to inform that Attack Refinery Limited (ARL) has signed Contracts with and Hyundai Engineering Co., Ltd Korea and Hyundai Engineering Pakistan (Private) Limited on April 11, 2013 for the execution of ARL Up-gradation Project which comprises of following:
i. Preflash unit-to enhance refining capacity by 10,400 BPD;
ii. Naphtha Isomerization unit-to enhance production of Premium Motor Gasoline (PMG) by 20,000 `Tons per month;
iii. Diesel Hydrodesulphurization (DIIDS) unit-to reduce sulphur contents in High Speed Diesel and
iv. Expansion of existing Captive Power Plant by 18MW.
The Contract Price for the Up-gradation Project would be comprised of foreign amounting to US $ 143 million approximately and local currency amounting to Rs 4,304 million approximately. The overall project cost would be around US$ 251 million. This Up-gradation Project will be financed in the debt equity ratio of 80:20. In this regard the Company is in the process of finalizing a financial close with a consortium of banks.
Pursuant to the requirements of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Company has duly caused this form/statement to be signed/on its behalf by the undersigned hereunto duly authorized.
For more information, contact:
Saif-ur-Rehman
Company Secretary
Attock Refinery Limited
Refinery P.O. Morgah,
Rawalpindi, Pakistan
Tel: (92-51)5487041-45,
Telex: (92-51)5487254,
E-mail: info@arl.com.pk