LAHORE: Pakistan Oxygen Limited (formerly Linde Pakistan Limited) is set to invest Rs4.4 billion for setting-up the country’s largest air separation plant.
According to a notification sent by the company on Friday to the bourse, the plant would be able to produce around 250 tons per day of air separation unit (ASU) products, read the notification.
Also, this Rs4.4 billion investment by Pakistan Oxygen Limited would include distribution and equipment needed to back the volume growth with current and new customers.
The plant is expected to come online in quarter two of 2020, read the notification.
“With our experienced and professional team and the largest footprint across Pakistan, this new investment in capacity enhancement presents growth opportunities that will contribute to build on our legacy of introducing pioneering and sustaining technologies, products and services to local industries,” read the notification.
Pakistan Oxygen Limited (formerly Linde Pakistan Limited) is a leading supplier of industrial & medical gases, pipeline services and welding solutions in Pakistan since 1935.
The company services customers across a wide spectrum of industries ranging from chemical and petrochemical to steel, food and healthcare.
Profit in a cover story recently profiled the owners of Pakistan Oxygen Limited, Adira Capital a company founded in 2017 but run by some very well-known names in Corporate Pakistan.
“It is primarily the brainchild of two seasoned executives: Waqar Malik, former CEO of ICI Pakistan, and Atif Bokhari, former CEO of United Bank Ltd.
The company bills itself as a financial sponsor that is akin to a private equity firm, but instead of several funds with limited lifespans, it has a pool of permanent capital that it deploys on behalf of some of the wealthiest Pakistani families. It made a splash in late 2017 by announcing its success in acquiring a controlling stake in Linde Pakistan, a provider of industrial gases,” said the article.
Pakistan Oxygen Limited shares were trading at Rs245.0, up Rs3.99 (+1.66 percent) and KSE-100 index was trading at 45,577.61 points, up 96.74 points (+0.21 percent) at the time of filing this report.
