Islamabad, Pakistan; June 2, 2016:GE (NYSE: GE) and Engro Corporation Limited yesterday initiated a strategic alliance at GE’s Crotonville Global Leadership Institute that will make Engro a key digital industrial partner for GE in Pakistan and the region.
Engro is one of Pakistan’s leading conglomerates with investments in agriculture, fertilizers, foods, energy, chemical storage and petrochemicals. Already a major GE customer, Engro will accelerate its transformation into a digital industrial powerhouse by selling GE solutions and becoming a system integrator of GE Power’s digital solutions to the power generation industry. Engro and GE will also jointly develop new software applications on GE’s Predix* platform for the Industrial Internet to address industries not currently served by GE in which Engro has deep domain expertise.
“GE and Engro remain committed to bringing transformational solutions to Pakistan and across the region,” stated Azeez Mohammed, President & CEO for GE’s Power Services business in the Middle East & Africa. “We are proud to strengthen our collaboration with Engro under this important agreement through which we will provide advanced digital industrial solutions that will enhance asset life cycles and reliability across multiple industries.”
The initial focus of the alliance will be on providing GE’s Digital Power Plant solutions to electricity generation companies in Pakistan. Engro in collaboration with GE will together acquire the latest cloud technologies that will help enable Pakistan’s power generation sector to leapfrog more mature technologies and become part of a global digital power transformation that is expected to create $1.3 trillion in value between now and 2025.
GE’s Digital Power Plant solutions transform sensor data gathered from industrial machines and processes into actionable intelligence. This intelligence can be used to monitor equipment health, reduce downtime, improve reliability and ultimately to provide customers with a holistic view of the impact of operational decisions across entire plants and power generation fleets.
As part of the new agreement, Engro’s application development and professional services organization, Inbox Business Technologies, will develop new applications on GE’s Predix platform for industries in which Engro has deep domain expertise, including petrochemicals, fertilizers and food processing. GE will provide tools and training to accelerate the development of these Predix-based applications.
Jahangir Piracha, CEO Engro Powergen Qadirpur Limited said, “Engro remains resolute in its commitment to develop the local energy sector by introducing technological platforms that can enhance our domain expertise. Together with GE, Engro aims to implement and provide these customized digital solutions to a broad base of industrial partners in Pakistan which will help develop a more digitally competitive industry while simultaneously enhancing operational performance across the board.”
“GE has been a committed partner in Pakistan’s growth story for more than 50 years,” said Sarim sheikh, President & CEO for GE Pakistan & Central Asia. “The solutions that will be introduced into the country and others that will be developed in Pakistan through this agreement with Engro will result in further development of the software innovation ecosystem in the country.”
About GE Power
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.
GE has three offices in Pakistan – in Islamabad, Karachi and Lahore. GE-built technologies generate more than 25 percent of Pakistan’s electricity, while GE and its joint venture partners power more than 60 percent of the aircraft operated by Pakistani commercial carriers and GE Healthcare devices are installed in more than 70 percent of large hospitals across the country. www.ge.com
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, foods, chemical storage & handling, trading, energy and petrochemicals. Fuelled by the vision of becoming the premier Pakistani enterprise with a global reach, Engro’s investments are all designed to deploy inclusive business models to pursue an integrated and inclusive growth for all who interact with its businesses. www.engro.com