Magazine article Economic Review

ICI in Pakistan - a History of Continuous Investment A Manifestation of ICI's Confidence in the Future of the Country

Magazine article Economic Review

ICI in Pakistan - a History of Continuous Investment A Manifestation of ICI's Confidence in the Future of the Country

Article excerpt

ICI Pakistan Limited, a leader in industrial chemicals and paints, manufactures and sells a diversified range of products including Polyester Staple Fibre, Soda Ash, Sodium Bicarbonate, Decorative, Refinish and Industrial Paints, Agrochemicals and Specialty Chemicals. The Company also markets toll-manufactured Pharmaceuticals and Animal Health products, in addition to a range of imported Industrial Chemicals and Seeds. In keeping with its consistent commitment to growth, ICI Pakistan recently made its largest ever investment in the construction of a USD 490 million world scale plant at Port Qasim, near Karachi, for the manufacture of Pure Terephathalic Acid (PTA) a key raw material for the manufacture of polyester fibre, filament yarn, films and PET packaging. The plant, inaugurated in May 98, is expected to save the national exchequer USD100 million annually through import substitution.

ICI has maintained a presence in the subcontinent for almost a century with active manufacturing operations in the region for more than half a century. Planning for the future. ICI Pakistan is constantly investing large amounts of human, technological and most importantly financial resources to meet the emerging needs of a growing country. Starting with a soda ash plant, ICI Pakistan has today created a diverse portfolio of seven businesses with a turnover expected to surpass USD182 billion by the end of the current year.

ICI Pakistan is continually evaluating new business opportunities with appropriate technologies for transfer to Pakistan. The Company's PTA plant is based on technology purchased from ICI by DuPont in 1997, consequent to the purchase of ICI's global PTA Business, except in Pakistan, by DuPont. Various agreements were put in place to ensure ongoing support from DuPont during the final stages of Project completion and commissioning. On 22 June 1999 ICI Pakistan Ltd. and El. DuPont de Neumours & Company signed a 15 year Technical Services Agreement which enables access to technical resource and "knowhow" on an as need basis. The arrangements also allow for participation in Technical Exchanges with other DuPont Sites and Licensees. This Agreement will strengthen ICI Pakistan's operational support arrangements and ensures it benefits from future developments and improvements in other PTA operations with similar technology hence improve performance and add value to its business.

ICI Pakistan has invested over Rs.30 billion in capital projects since its first factory for the manufacture of soda ash was set up at Khewra over 50 years ago. Plant expansion, in 1994, was completed at a cost of Rs.731 million while product diversification with a 10,000 tpa Sodium Bicarbonate plant commissioned in April 1995 was achieved at a cost of Rs,145m. In 1997 the Khewra Works was equipped with a 40 TPH boiler, capable of operating on both gas and oil, at a cost of Rs.110 million and a Computerised Maintenance Management System was installed at a total cost of Rs.7 million.

The Company's polyester staple fibre expansion was successfully commissioned and commercial production commenced in February 1997. …

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