Engro Fertilizers
 | |
| Company type | Public |
|---|---|
| PSX: EFERT | |
| Industry | Fertilizer |
| Founded | 2010 |
| Headquarters | Karachi-75600, Pakistan |
Key people | Ali Rathore (CEO) |
| Total assets |  Rs. 102 billion (2016)[1] |
| Parent | Engro Corporation (56.45%)[1] |
| Website | engrofertilizers |
Engro Fertilizers (Urdu: اینگرو فرٹیلائزرز) is a Pakistani fertiliser manufacturing company headquartered in Karachi. It is a subsidiary of Engro Corporation.[1]
History[edit]
Engro Fertilizers was demerged from the parent company Engro Corporation in 2010.[1][2]
In June 2011, Engro commissioned the Enven plant at a cost of $1.1 billion.[3][4] 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.[4][5] 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.[6]
In December 2013, Engro was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of Rs. 28.25.[7][8][9]
In February 2015, Engro Fertilizers acquired Engro Eximp Private Limited from Engro Corporation.[10][5] Engro Eximp imports diammonium phosphate (DAP) fertilizer in Pakistan.[5]
In June 2016, Engro Corporation sold 28 percent of its stake in Engro Fertilizers to private investors for $185 million.[11][12]
Production[edit]
Pakven 600[edit]
Pakven 600 was commissioned in September 1993, which increased Engro's urea production capacity from 268,000 tons to 600,000 tons per annum.[13] It was an imported second-hand plant which was installed at a cost of $130 million.[13] In July 1995, Engro further increased its capacity by 150,000 tons per annum at a cost of $23 million.[13]
The plant has outlived its useful life.[14] In 2011, 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.[14]
EnVen[edit]
The EnVen plant is located in Daharki.[14] The construction of the plant began in 2007.[14] It was commissioned in 2011 at a cost of $1.1 billion.[15] 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.[5][11] The plant has a designed annual production capacity of 1.3 million tons of urea fertilizer.[16]
NPK Plant[edit]
Zarkhez NPK plant is located at Port Bin Qasim, Karachi.[14] It was commissioned in 2000 and has an annual production capacity of 100,000 metric tons.[14][17]
References[edit]
- ^ a b c d Hussain, Dilawar (15 May 2017). "Fertiliser industry faces up to tough times". Dawn. Pakistan. Retrieved 18 June 2021.
- ^ Mariam Ali Baig (July–August 2018). "Pressing reset on agricultural productivity". Dawn. Pakistan. Retrieved 17 June 2021.
- ^ "Engro EnVen urea plant announces COD". Brecorder. 25 June 2011.
- ^ a b "Blue-chip woes: Was Enven a strategic mistake?". The Express Tribune. 27 June 2011.
- ^ a b c d Hussain, Dilawar (30 March 2015). "Change in Enven's fortunes". DAWN.COM.
- ^ "Absence of gas: Engro claims Rs34 billion in damages from public utility". The Express Tribune. 18 January 2013.
- ^ "Engro Fertilizers conducts first phase of IPO successfully". The Express Tribune. 21 November 2013. Retrieved 7 November 2021.
- ^ "Public subscription: IPO of Engro Fertilizers entering final phase". The Express Tribune. 3 December 2013. Retrieved 7 November 2021.
- ^ Hussain, Dilawar (15 December 2013). "Engro Fertiliser IPO at Rs28.25 per share". Dawn. Pakistan. Retrieved 7 November 2021.
- ^ "Acquisition: Engro Fertilizers to buy commodity trading business for Rs4.4b". The Express Tribune. 18 February 2015.
- ^ a b Tirmizi, Farooq (26 December 2016). "Return of the Billion-Dollar Gamble". Profit by Pakistan Today.
- ^ Tirmizi, Farooq (17 December 2018). "Engro's Rs60 billion question". Profit by Pakistan Today.
- ^ a b c "Corporate finance in Pakistan: Case studies from an emerging market". [Karachi]: Oxford University Press: Lahore University of Management Sciences. 13 May 1999 – via Internet Archive.
- ^ a b c d e f Khan, Muhammad Raafay (29 December 2022). "Engro Fertilizers increases base plant urea capacity to 950,000 tons". Profit by Pakistan Today.
- ^ "World's largest urea plant comes online". The Express Tribune. 24 June 2011.
- ^ Hussain, Dilawar (17 August 2015). "Engro Fertiliser: Acquisition improves earnings". DAWN.COM.
- ^ "50 years of accomplishment-Engro turns 50 – Business Recorder".
