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Karachi, February 27, 2013 (PPI-OT): In accordance with the Clause (xx) of the Listing Regulation No. 35 under the Code of Corporate Governance of Karachi, Lahore and Islamabad stock Exchanges, we are pleased to convey the decisions of the Board of Directors taken in its meeting held today:
Following a supply agreement with a customer, the Board approved an investment plan in Air Separation Plant and Equipment to be installed at Qasba Gujrat, Muzaffargarh, Mahmood Kot.
Further, with the commissioning of Company’s largest Air Separation Plant at Lahore, the Board also approved the re-location of Company’s existing ASPEN 1000 plant from Taxila to its Port Qasim site to support the increased demand and to serve the customers with reliable solutions in the southern region. The re-located plant is expected to commence its commercial production by June 2013.
The total Project outlay of the above is expected to be about over Rs 600 million which will be funded with a combination of Company’s internal resources and external borrowings. This is in addition to Rs 556 million investment in a sell-generating power plant at Port Qasim announced during 2012.
For more information, contact:
M Ashraf Bawany
Deputy Managing Director
Linde Pakistan Limited
(Formerly BOC Pakistan Limited)
P.O. Box: 4845, Dockyard Road,
West Wharf, Karachi – 74000
Ph: +92 21 3231 3361-9
Fax: +92 21 3231 6968 and 3231 1809
Web: www.linde.com