ISLAMABAD, Oct 18: A leading British firm is mulling to establish a facility for production of high density polyethylene, linear low density polyethylene and low density polyethylene at Port Qasim with a annual capacity of 310,000 tons.
In this connection, Peter Leoyed Cooper of Trans Polymer, UK called on CEO Engineering Development Board Imtiaz Rastgar here on Wednesday and discussed details of their project.
The company has already entered into agreements with various firms for procurement of plant and equipment, licensing for manufacturing process and supply of raw materials.
This plant can meet the entire demand of polyethylene in Pakistan and the production capacity can be easily expanded further depending upon the demand.
The EDB CEO assured him full cooperation of the board, however, he expressed dissatisfaction on export performance of multinational in Pakistan.
He said that these companies were enjoying tariff protection for the last so many years without entering into export market, therefore Trans Polymer should give due importance to this aspect.
Cooper informed that they would be in a position to export their products worth $100 million in their first year of operation.—APP
