Karachi, EngroPowergenQadirpur Limitedinformed Pakistan Stock Exchange that the Company is holding an Analyst Briefing regarding the Company’s business results for FY 2017 at Karachi.
EngroPowergen is incorporated in 2008 as a subsidiary to develop power projects in Pakistan. It is Engro Corp’s first initiative into the country’s power sector. Our aim is to ease the burden on the nation’s energy sector by developing projects exploring cleaner, more efficient and economically viable sources of power generation including wind, hydro and solar energy. EngroPowergen Limited owns and operates EngroPowergenQadirpur Limited, a 217 megawatt power plant and the group’s first initiative in the power sector of Pakistan. EngroPowergenQadirpur Limited was listed on the Karachi Stock Exchange in October 2014 where 25% of the shares were offered. As of now EngroPowergenQadirpur Limited is 69% owned by Engro Corp via EngroPowergen whereas the remainder is owned by the International Finance Corporation (IFC) and employees.
This project is very unique in a way that it utilizes high sulfur gas which was being flared through Qadirpur Gas Field for almost a decade. This energy conservation idea showed the waste gas a right path to burn. This is a one + 1 + one configuration dual fuel fired combined cycle power plant with a 123 MW Gas T Turbine, 400 tons/hour Heat Recovery Steam Generator and 110 MW Steam Turbine.
The symbol “EPQL” is being used by the stock exchanges for the shares EngroPowergenQadirpur Limited.