Engro Investing $840 Million in Power Sector As Part of Its Expansion Plans
Engro Corporation of Pakistan is planning to invest at least $840 million to serve the energy-starved country. This is part of its strategy to shift towards the power sector and construction at the $2 billion coal-based electricity plant at Tharpaker has already started. The plan is to construct a 450 MW Liquefied Natural Gas (LNG)-fuelled power generation plant and a second LNG terminal, respectively, at a cost of $700 million and $140 million. Engro is a Pakistani public multinational corporation based in Karachi with subsidiaries involved in production of fertilizers, foods, chemicals, energy and petrochemicals.