Mari Energies secures Rs14bn JV with Ghani Chemical Industries Limited

KARACHI: Ghani Chemical Industries Limited (GCIL), a major producer of medical and industrial gases, has announced a transformative Rs14 billion joint venture with Mari Energies Limited, marking a significant development in Pakistan’s energy and chemical sectors.

The agreement, approved by GCIL’s Board of Directors, will establish a new project company dedicated to capturing and processing cold-vent and exhaust gases from the Sachal Gas Processing Complex (SGPC). The initiative is being described as the first of its kind in the country and is expected to create a new stream of value-added gas products.

Under the shareholding structure, Mari Energies will hold 51 percent of the new venture, while GCIL will retain a 49 percent stake. The project aims to produce 80,000 tons per annum of liquefied natural gas and 55,000 tons per annum of industrial and food-grade carbon dioxide. Annual revenues are projected to reach approximately Rs17 billion once the plant becomes operational. GCIL’s chief executive officer has been nominated to serve as the inaugural CEO of the new company.

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The announcement comes at a time of major expansion within GCIL. Earlier this year, the company commissioned its largest Air Separation Unit at the Hattar Special Economic Zone, a 275-ton-per-day facility regarded as Pakistan’s biggest and most efficient plant for industrial and medical gases. GCIL is also moving into the liquefied petroleum gas sector with the development of a 450-metric-ton LPG storage and filling facility at Phool Nagar, District Kasur, through its subsidiary, Ghani Gases (Private) Limited.

GCIL noted that its core operations continue to grow, supported by rising demand for medical gases and sustained penetration into key industrial segments, including fertilizers, chemicals, oil and gas, and ship-breaking. The company said it is actively working to mitigate macroeconomic and energy-related risks by diversifying supply chains, locking in long-term contracts, and expanding its reliance on solar power at production sites.

The joint venture with Mari Energies, GCIL added, is expected to play a pivotal role in shaping the company’s future growth while contributing to domestic energy efficiency and industrial innovation.

Copyright Business Recorder, 2025