Engro executes Rs133bn deal for telecom tower expansion

December 22, 2025 (MLN):  Engro Corporation has successfully executed a Rs133 billion transaction structured entirely on Islamic financing principles.

The deal has enabled Engro to expand its telecom infrastructure platform through the acquisition of Deodar, which added more than 10,000 telecom towers to its portfolio, said a press release issued.

It reinforces Engro’s strategy of supporting digital connectivity and infrastructure development across the country.

A commemorative event was held to mark the closing of the transaction, bringing together senior representatives from participating banks, legal and financial advisors, Engro’s leadership, and Governor of the State Bank of Pakistan, Jameel Ahmed.

Addressing the gathering, the central bank governor praised the collective effort behind the deal and reiterated the State Bank’s vision for digital finance and financial inclusion.

“This is a remarkable achievement of this scale,” the governor, Jameel Ahmed said, congratulating the Dawood family, Engro, and the banking partners involved.

He highlighted that the success of the transaction reflected both institutional support from Islamic banks and Islamic windows of conventional banks, as well as the leadership’s commitment to Shariah-compliant financing.

Engro’s management described the transection as a step towards strengthening Pakistan’s digital sovereignty.

By promoting shared telecom infrastructure where a single tower can be used by multiple mobile network operators the model significantly reduces costs and prevents duplication of capital expenditure.

With each telecom tower costing around $50,000, shared infrastructure allows resources to be redirected towards other critical development needs while improving nationwide connectivity.

The company also emphasized the strategic importance of local ownership of digital infrastructure, noting that it enhances Pakistan’s ability to control, secure, and shape its digital future.

The transaction further highlights the growing depth and maturity of Islamic finance in Pakistan.

Participating banks, particularly UBL and Meezan Bank, played a key role in structuring and supporting the deal, which reflected a  long-standing partnerships with Engro and a shared commitment to expanding Shariah-compliant financial solutions.

Chairman of Engro Corporation, Hussain Dawood, attributed the achievement to principled leadership and collective resolve.

He said the success of the transaction demonstrated the organization’s values and its determination to align major business decisions with ethical and faith-based principles.

The deal emphasizes its commitment to national development priorities and expressed gratitude to all stakeholders involved.

The company reaffirmed its intention to continue contributing to Pakistan’s digital and financial transformation through responsible investment and collaboration.

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