Future Outlook
Engro Polymer and Chemicals Ltd (EPCL) has secured USD 35 mn from the International Finance Corporation (IFC) to fund the expansion plans for its PVC production plant. The IFC financing is a part of the initial PKR 10.3 bn expansion plan announced earlier, out of which PKR 5.4 bn was already raised by the company from the issue of right shares.
A new production line of PVC is planned to cater to its rising demand, which surged significantly mainly due to a boom in construction activities. With a new PVC plant of 100,000 tonnes capacity, the total production would expand to 295,000 tonnes per annum while production of VCM (raw material) would increase by 50,000 tonnes through debottlenecking of the existing plant.
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