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- Operations
- Engro Chemicals Ltd.
Engro Chemicals Ltd.
Pakistan
Borrower | Engro Chemicals Limited |
Financing Type | Private Sector & Trade Finance |
Instrument | Private Sector Debt |
Focus Area | Industry |
Approved | 28.08.2007 |
Signed | 05.10.2007 |
Status | Completed |
Loan Administrator | DEG |
Co-financiers | FMO, DEG, Syndication, Sponsor |
OPEC Fund Contribution (US$m) | 15.00 |
Engro Chemicals is Pakistan’s second largest fertilizer
company, with its core business being the
manufacture and marketing of chemical fertilizers,
particularly urea. Engro is currently seeking to
increase its production capacity in order to close
the gap between fertilizer supply and demand.
OFID’s loan will thus co-finance the construction
and commissioning of a new urea plant with a
capacity of 1.3 million tons per year. On completion,
the new plant is expected to bring a welcome
boost to Pakistan’s vital agriculture sector by lowering
the cost of fertilizer. As the sector employs
close to one-half of the workforce, the project will
also contribute to poverty alleviation by securing
the ongoing employment of a large number of
people.