Dubai energy firm to invest in Pakistan | The Express Tribune


ISLAMABAD:

A Dubai-based power sector company is eyeing investment in refrigerant gasses and ADNOC lubes in Pakistan, with an initial investment worth $15 million.

In a seminar organised by the Board of Investment at Pakistan Pavilion – Dubai Expo, Brother Gas Managing Director Kashif Maqsood confirmed the company’s plan to set up a bottling plant at an Special Economic Zone (SEZ) in Faisalabad.

Maqsood was accompanied by his five-member senior management team.

The delegation revealed that the company would be investing in three phases. The first phase would comprise setting up of a plant in M-3 Industrial City in Faisalabad, which would serve the local market and facilitate exports to neighbouring countries from Pakistan.

“It will include industrial gasses and the company will offer more than 1,000 products,” the delegation said.

Moving forward, an Aerosol Propellant Gas (APG) plant would also be installed for local manufacturing of APG instead of importing the commodity.

The investment would help reduce imports and boost foreign direct investment (FDI), the delegation members said.

“This project will also lead to introduction of refrigerant gasses and ADNOC lubes for the first time in Pakistan.”

Previously, the Board of Investment had facilitated the organisation by assisting it to apply for a plot in SEZ Faisalabad.

Board of Investment Secretary Fareena Mazhar termed the investment “major breakthrough” for attracting foreign direct investment in Pakistan.

On the occasion, the business community was apprised on investment policies and potential in Pakistan with focus on technology.

Published in The Express Tribune, December 9th, 2021.

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