KARACHI: Engro Corporation’s Board has approved an investment of $31.4 million towards conducting engineering, design and technical studies including a Front End Engineering Design (FEED) study in relation to a polypropylene facility based on propane dehydrogenation (PDH-PP Project).
“The results of these studies, when completed, are expected to inform the final investment decision in relation to this project, which decision will also be based on a conducive policy environment and arranging the right mix of debt and equity partners at such time,” a bourse filing said.
Engro Corporation Limited is one of Pakistan's largest conglomerates with the company's business portfolio spanning across sectors including chemical fertilisers, PVC resin, telecommunication infrastructure, bulk liquid chemical terminal, foods and power generation.
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