KARACHI: Engro Corporation Ltd informed the PSX: “In continuation of our letter dated April 26, 2019, in relation to the company’s intent to explore investment opportunities in the petrochemical sector and the approval of the board for commencement of a study in relation to a polypropylene facility based on propane dehydrogenation”.

Engro said the board on Thursday approved $31.4 million, or equivalent in rupee, towards conducting engineering, design and technical studies including front end engineering design.

“The results when complete are expected to inform the final investment decision in relation to the project which would be based on a conducive policy environment and arranging the right mix of debt and equity partners at such time.”

Published in Dawn, April 10th, 2021