Karachi, April 22, 2019 (PPI-OT): Engro Polymer and Chemicals (EP and C) has announced that the company has started commercial operations at the new production line of Caustic Flakes, which has a capacity of 20,000 MT per annum. The company had announced on December 28, 2017, that it was entering into the Caustic Flakes business by setting up a new production line of 20,000 MT per annum.
“The addition of Caustic Soda Flakes to EP and C’s existing product portfolio will further consolidate the company’s position in Chlor-Alkali segment and will enable the company to capitalize on the inherent proximity advantage for southern domestic market and export avenues,” stated the company in the stock filing.
Previously in December 2017, it was also announced that the company plans to add a new PVC plant with a capacity of 100,000 MT (taking total capacity to 295,000 MT per annum) and VCM Plant debottlenecking of 50,000 MT per annum, with completion targeted for Q3 of 2020.
In the quarterly progress report, it was announced that civil works have started for PVC 3 and the new utilities plant, with the detailed design for both finalized. The first consignment for PVC 3’s plant structure has arrived along with the first tranche of equipment for VCM debottlenecking.
It was also disclosed that the new EDC tank’s mechanical construction is in progress with the mechanical completion of the tank expected in Q2. Engro Polymer is a subsidiary of Engro Corporation and is involved in the manufacturing, marketing and distribution of quality Chlor-Vinyl allied products and PVC under the brand name ‘SABZ’. EPCL’s script at the bourse closed at Rs. 32.47, down by Rs. 0.83 with a turnover of 481,500 shares on Monday.
For more information, contact:
Engro Polymer and Chemicals Limited (EPCL)
12th Floor, Ocean Tower, G-3, Scheme No. 5, Main Clifton Road,
Block 9, Clifton, Karachi, Pakistan
Category: General Business News