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Business & Finance PAKOXY (Pakistan Oxygen Limited) 160.00 Decreased By ▼ -1.23%

Pakistan Oxygen to build multi-billion Air Separation Unit

  • “We are now pleased to convey that the Board of Directors of the Company in its meeting held on November 20, 2020, has approved an investment plan of about Rs. 6.3 billion to setup the latest and the most energy-efficient Air Separation Unit (the "Plant") in its class,” it said.
21 Nov 2020

Pakistan Oxygen Limited (POL), one of the country’s leading suppliers of industrial and medical gases has announced to set up an Air Separation Unit plant worth billions of rupees.

The company in its filing to the bourse informed that with respect to the company's investment plan for setting up the ASU plant, the company in February informed that the said plan would not materialize due to Force Majeure announced by the manufacturer on account of coronavirus pandemic at their manufacturing facility.

“We are now pleased to convey that the Board of Directors of the Company in its meeting held on November 20, 2020, has approved an investment plan of about Rs. 6.3 billion to setup the latest and the most energy-efficient Air Separation Unit (the "Plant") in its class,” it said.

The new state-of-the-art plant will be sourced from Linde GmbH, Linde Engineering Pullach Germany, and will be capable of producing opt° 270 tons per day air separation (ASU) products. “The Plant is superior due to higher capacity, better Specific Power Consumption (SPC), product quality, reliability, and advanced control system,” said the company.

The investment will include the Plant and associated storage equipment as required to support the volume growth with existing and new customers. The Plant is expected to come on stream in 2023.

The Company is a leading supplier of industrial & medical gases, pipeline services and welding solutions in Pakistan since 1935.