BAKU, Azerbaijan, May 29
By Klavdiya Romakayeva - Trend:
Pakistan's Engro Corp expressed interest in implementing a project to organize a joint production of phosphate in the Tashkent region of Uzbekistan with a view to further export to the countries of South Asia and the CIS, Trend reports citing Embassy of Uzbekistan in Pakistan.
As part of its efforts to find and attract potential Pakistani companies to investment projects in Uzbekistan, the Embassy of Uzbekistan, with the assistance of the Investment Promotion Agency under the Ministry of Investment and Foreign Trade (IPA under MIFT), organized videoconferencing negotiations with Pakistan's Engro Corp.
At the beginning of the meeting, Head of CEO office at Engro Corp Khawaja Bilal Hussain noted that following the online summit at the highest level between the leaders of Pakistan and Uzbekistan in April, interest in the implementation of large joint business projects is growing among Pakistani business circles.
According to project director, the main interest of Pakistani businessmen is shown in the development of chemical, textile, food, pharmaceutical, leather and other areas, since the benefits and preferences provided in Uzbekistan are very attractive, and the state policy being implemented to support foreign investors is very progressive.
It was noted that if Engro Corp is interested in implementing investment projects in Uzbekistan, the Agency is ready to provide practical assistance, starting from the registration of joint or foreign enterprises to regular information and legal support of the company.
Khwaja Bilal Hussein expressed interest in implementing a project to organize a joint production of phosphate in the Tashkent region with a view to further export to the countries of South Asia and the CIS.
Founded in 1965, Engro Corp is one of the largest companies in Pakistan, employing about 3,000 people. He specializes in various areas of the economy, such as the production of chemical and mineral fertilizers, food processing, energy and telecommunications infrastructure.
Engro Corp participates in joint ventures with Royal Vopak in the Netherlands (the famous Engro Vopak gas chemical terminal), as well as a chemical plant with Mitsubishi called Engro Polymer & Chemicals (in Pakistan). The company owns its own gas and coal deposits in Pakistan's Sindh province. The company has annual revenues of $1.6 billion.
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