| Engro Corporation | |
| Former Name: | Esso Fertilizer Pakistan Limited (1965–1978) Exxon Chemical Pakistan Limited (1978–1991) Engro Chemicals Pakistan Limited (1991–2010) |
| Type: | Public |
| Traded As: | KSE 100 component KSE 30 component |
| Industry: | Conglomerate |
| Area Served: | Pakistan |
| Key People: | Hussain Dawood (chairman) Ahsan Zafar Syed (CEO) |
| Products: | Zabardast Urea, SABZ (PVC), Think PVC, etc. |
| Revenue: | (2023) |
| Operating Income: | (2023) |
| Net Income: | (2023) |
| Assets: | (2023) |
| Equity: | (2023) |
| Owner: | Dawood Hercules[1] (39.97%) |
| Num Employees: | 3,510 (2023) |
| Subsid: | Engro Energy Engro Enfrashare Engro Elengy Engro Eximp FZE Engro Fertilizers (56.45%) Engro Polymer (56.19%) Engro Vopak Terminals FrieslandCampina Engro Pakistan (40%) |
| Location: | Harbour Front Building, Clifton, Karachi-75600 |
| Footnotes: | Financials [2] |
Engro Corporation Limited (ur|اینگرو کارپوریشن) is a Pakistani conglomerate headquartered in Karachi.[3] Its businesses include energy, petrochemicals, fertilizers, port terminals, and telecommunications towers.[4]
Engro was founded as Esso Fertilizer in 1965. Its subsidiaries include Engro Energy, Engro Enfrashare, Engro Elengy Terminal, Engro Eximp FZE, Engro Eximp Agriproducts, Engro Fertilizers, Engro Polymer & Chemicals, and Engro Vopak Terminal. It is listed on the Pakistan Stock Exchange.
In 1957, Esso-Mobil discovered the region's largest gas reserves near Daharki, Ghotki District, Sindh.[5] Esso Pakistan Fertilizer Company was incorporated in 1965 as a fertiliser business by American company Esso. A total of 75% of the shares were owned by Esso and 25% by the general public.[6] Construction of the urea plant commenced in Daharki in 1966 and production began in 1968.[5] At US $43 million, with an annual production capacity of 173,000 tons, it was the single largest foreign investment by any multinational corporation in Pakistan at the time.[5]
In 1978, following Esso's global name change to Exxon, Esso Fertilizer was renamed as Exxon Chemical Pakistan in 1978.[7]
In 1991, Exxon divested its fertilizer business globally. The employees of Exxon Chemical Pakistan, in partnership with leading international and local financial institutions, bought out Exxon's 75 percent equity, thereby forming Engro Chemical Pakistan.[6] In 2010, Engro Chemical Pakistan renamed itself Engro Corporation and also adopted a new logo to reflect a uniform brand identity across its diverse businesses.[8]
In 2015, the National Accountability Bureau (NAB) initiated a case against Engro and several other parties, alleging that the contract for the import and distribution of Liquefied natural gas (LNG) awarded to Elengy Terminal in 2013, violated the rules of the Public Procurement Regulatory Authority (PPRA). NAB also accused the then Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi of abusing his authority, which they claimed could result in a potential loss of $2 billion to the national exchequer.[9] Although the case was closed by NAB in 2016, it was reopened in 2018.[10]
Engro was the first Pakistani company to become a signatory of the UN Global Compact (UNGC) and adopt the Global Reporting Initiative (GRI) framework for measuring and reporting corporate performance on economic, social, and environmental parameters.[11]
Engro Fertilizers is the second-largest fertilizer manufacturer in Pakistan, after Fauji Fertilizer Company.[12] It commissioned EnVen, the world's largest single-train urea plant, in 2011, marking one of Pakistan's largest private sector industrial investments.[5] [13]
Engro Energy Limited owns and operates Engro Powergen Qadirpur Limited, a 217-megawatt power plant.[14] [15] Engro Energy also holds Engro Powergen Thar, Engro Energy Services, and Sindh Engro Coal Mining Company.[16]
Engro Polymer was established as a joint venture with Mitsubishi to produce PVC and other Chlor Alkali products like Caustic Soda, Sodium Hypochlorite, and Hydrochloric Acid.[17]
Established in 2018, Engro Enfrashare operates more than 3,950 telecommunication towers in Pakistan.[18]
Engro Eximp Agriproducts was founded in 2011.[3] It operates a plant for processing and finishing rice.[3]
Engro Eximp FZE, a wholly owned subsidiary of Engro Eximp Agriproducts, started its operations in 2022 in the Jebel Ali Free Zone of Dubai. It facilitates global trading opportunities in energy, petrochemicals, and other sectors.[19]
Engro Vopak Terminal provides storage for bulk liquid chemicals and Liquefied petroleum gas (LPG), with an expanded capacity of 82,400 cubic meters.[20] It is a joint venture with Royal Vopak of the Netherlands.
Engro Elengy Terminal is a joint venture between Engro Corporation and Royal Vopak of the Netherlands, is the first LNG terminal of Pakistan that started operations in March 2015.[21] [22]
Established in 2006, FrieslandCampina Engro is a joint venture with Royal FrieslandCampina.[13] Its brands include Tarang, Olpers, Omung, and Omoré.[23]
See main article: Engro Foundation. Engro's social investment programs are managed by Engro Foundation.[24]
In 2012, Engro Foundation launched I Am The Change Awards to recognize individuals who are working for the betterment of people and hard-hit communities.[25] In 2020, the Foundation also signed a three-year memorandum of cooperation with the Bill and Melinda Gates Foundation to promote the well-being of vulnerable and marginalised segments of society.[26]
Engro's Board of Directors includes one executive director, five independent directors, and four non-executive directors.[30] Hussain Dawood has been the Engro Corporation Chairman since 2006.[31]