Ghani Chemicals signs Long-Term Agreement with Engro Polymer & Chemicals for supply of gases

November 12, 2020 (MLN):  Ghani Chemical Industries Limited (GCIL), a subsidiary company of Ghani Global Holdings Limited has signed a Long Term Supply Agreement with Engro Polymer & Chemicals Limited (EPCL) on November 12, 2020 for the Supply of Oxygen and Nitrogen Gases for a period of 15 years from April 2021. As a result, sales of GCIL will further increase by approximately 86 Tons — 105 Tons per day.

According to the notification issued to PSX, the above agreement would not only denote the expansion of GCIL (Subsidiary of the Company) by way of the setup of GCIL's 4th ASU manufacturing plant at Port Qasim, Karachi but would also change the economic dynamics of this Subsidiary in the periods to come.

Before the above, during August 2020, this Subsidiary (GCIL) has also executed a long-term agreement with Attock Refinery Limited for the supply of Liquid Nitrogen for a period of 05 years.

It is pertinent to mention that Ghani Chemical Industries Limited (GCIL) is one of the largest manufacturers of industrial and medical gases in Pakistan, and a Subsidiary Company of Ghani Global Holdings Limited with 99.39% shareholdings in GCIL.

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