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Karachi, October 24, 2012 (PPI-OT): In accordance with Clause (xx) of the Listing Regulation No. 35 under Code of Corporate Governance, we are pleased to convey the following information:
Attock Refinery Limited (ATRL) and Hyundai Engineering Co., Ltd., Korea have agreed to enter into a Contract on Engineering, Procurement, Construction and Commissioning (EPCC) basis for the execution of ARL Up-gradation Project which comprises:
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 (DHDS) unit-to reduce sulphur contents in High Speed Diesel and
iv. Expansion of existing Captive Power Plant by 18MW.
The execution of DHDS unit along with related expansion of Captive Power Plant is optional depending on ARL’s sole decision subject to resolution of issues pertaining to incentives with the Government of Pakistan.
For more information, contact:
Saif-Ur-Rehman Mirza
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