EPCL’s PVC plant attains mechanical completion

January 29, 2021 (MLN): Despite the challenges posed by the pandemic, the progress at Engro Polymer & Chemical Limited (EPCL)’s PVC has been satisfactory as the plant has attained Mechanical Completion.

The notice to PSX said, ‘We are now in the commissioning phase and on target to attain COD as of end Q1 2021.’

On the VCM debottlenecking front, construction work remained in progress but has experienced some hindrance due to shipment postponement and minor manpower mobilization issues on part of the EPC contractor. There is a distinct possibility that Mechanical completion will see some delay and COD will spill over to early Q2 2021.

To note, EPCL carried out a right issue of ordinary shares to fund the company’s PVC/VCM debottlenecking project.

Additionally, an approximate schedule of the right issue’s component-wise utilization which is based on the company’s best estimate is given below:

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