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Engro Fertilizers
Fertilizer company in Pakistan From Wikipedia, the free encyclopedia
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Engro Fertilizers (Urdu pronunciation: [ɛn.ˈɡɾoː ˈfɝː.tɪ.laɪ.zɚrz] en-GROW-FER-ti-LY-zurz) is a Pakistani fertiliser manufacturing company headquartered in Karachi with its manufacturing facility located at Daharki, and a facility located at Port Qasim as well.[3][4] It is a subsidiary of Engro Corporation.[1] It has 35% market share of the Pakistani fertilizer market as of 2023.[5]
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History
Engro Fertilizers was demerged from the parent company Engro Corporation in 2010.[1][6]
In June 2011, Engro commissioned the EnVen plant at a cost of $1.1 billion.[7][8] It was built under the 2001 Fertilizer Policy of Pakistan in which the Government of Pakistan guaranteed gas supply at a reduced rate for ten years.[8][9] The contract was signed with Sui Northern Gas Pipelines Limited, which defaulted on their contract and in 2013 Engro claimed Rs. 34 billion in damages.[10]
In December 2013, Engro was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of Rs. 28.25.[11][12][13]
In February 2015, Engro Fertilizers acquired Engro Eximp Private Limited from Engro Corporation.[14][9] Engro Eximp imports diammonium phosphate (DAP) fertilizer in Pakistan.[9]
In June 2016, Engro Corporation sold 28 percent of its stake in Engro Fertilizers to private investors for $185 million.[15][16]
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Production
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Pakven 600
Pakven 600 was commissioned in September 1993, which increased Engro's urea production capacity from 268,000 tons to 600,000 tons per annum.[17] It was an imported second-hand plant which was installed at a cost of $130 million.[17] In July 1995, Engro further increased its capacity by 150,000 tons per annum at a cost of $23 million.[17]
The plant has outlived its useful life.[18] In 2021, Engro increased its capacity from 500,000 tons to 780,000 tons per annum and a year later further expanded it to 950,000 tons per annum.[18]
EnVen
The EnVen plant is located in Daharki.[18] The construction of the plant began in 2007.[18] It was commissioned in 2011 at a cost of $1.1 billion.[19] It was built under the provisions of the 2001 fertilizer policy in which the Government of Pakistan gave a guarantee of subsidized gas for a period of ten years.[9][15] The plant has a designed annual production capacity of 1.3 million tons of urea fertilizer.[20] In 2023, Engro Fertilizers reported a record urea production of 2.3 million tonnes, a 18.3% increase over previous year's production.[21] In June 2024, Engro completed the largest turnaround of the EnVen plant over a period of 2 months, with investment of around $50 million and a manpower of more than 6000 people.[22]
NPK Plant
Zarkhez NPK plant is located at Port Bin Qasim, Karachi.[18] It was commissioned in 2000 and had an annual production capacity of 100,000 metric tons.[18][23] The plant has since been debottlenecked and production capacity increased to 145,000 metric tons.[24]
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References
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