The celebration was marked by a signing of a MOU between Engro Corporation and Royal Vopak to jointly explore growth opportunities in Pakistan and abroad
KARACHI; November 09, 2017: Engro Vopak Terminal Limited – a joint venture of Engro & Royal Vopak of Netherlands – celebrated twenty years of operations in Pakistan. At the occasion the Engro Vopak terminal was graced by a visit of senior delegates from Royal Vopak comprising Eelco Hoekstra – Chairman of the Executive Board and CEO of Royal Vopak and other members of the leadership team.
This was followed by lunch at the Engro Corporation headquarters where the visitors were given a broad-spectrum overview of Pakistan’s economy with discussions on avenues of mutual growth. Subsequently, a Memorandum of Understanding was signed between Engro Corporation and Royal Vopak to explore potential growth opportunities, within Pakistan and abroad, in industries including LNG, chemical storage, and terminal operations amongst others.
Speaking at the occasion Ghias Khan, President & CEO of Engro Corporation, said, “We first partnered with Royal Vopak in 1997 and established Pakistan’s first integrated and only cryogenic facility that soon had the distinction of handling two-thirds of all liquid/gaseous imports into Pakistan. Today marks two decades of mutual growth and value creation for Pakistan; and underlines our commitment to continuing our tradition of enhancing shared value for a broad category of stakeholders.”
Engro – regarded as one of the largest conglomerates operating in Pakistan – has deep domain expertise in verticals ranging from fertilizer, energy, petrochemicals, terminal operations, foods, trading and chemical storage and recognizes the need for cooperation in potential areas of collaboration with both local and international stakeholders.
Royal Vopak is the world’s leading independent tank storage company, specialized in storage and handling of oil, gas and chemicals with over 400 years of experience in storage and transshipment. Vopak owns and operates 67 (marine) terminals at strategic locations in 25 countries along major trade routes connecting all continents. Vopak’s mission is to ensure safe, reliable and efficient storage and handling of bulk liquid products and gases for its customers. Vopak is publicly traded on the Amsterdam Stock Exchange.
Engro’s business relationship with Royal Vopak dates back to 1995, when the then Engro Chemicals Limited entered into chemical storage and handling business in a joint venture with Royal Vopak of Netherlands. This relationship which spans over two decades has earned Engro Vopak Terminal Limited the reputation of being one of the best managed terminals in the Vopak world.
Note to Editors
Engro Corporation (PSX: ENGRO) is a Pakistani home-grown multinational corporation widely regarded as one of the largest conglomerates in Pakistan. Engro’s portfolio consists of a variety of businesses including fertilizers, energy, chemical storage & handling, petrochemicals and foods. Fueled by the vision of becoming a digital first group in the country, Engro’s investments are all designed to deploy inclusive business models to pursue an integrated and shared growth for all who interact with its businesses. For more information please visit us on www.engro.com.