Engro Corp, Pakistan’s largest conglomerate, aims to penetrate new markets in the Middle East, Central Asia, and Africa, according to Samad Dawood, Vice Chairman of Dawood Hercules Corp, which holds a 40% stake in Engro. In a recent interview with Reuters, Dawood revealed plans for global expansion, particularly in the liquefied natural gas (LNG) and hydrogen energy sectors.
The company is exploring opportunities in telecom infrastructure across the Middle East, North Africa, and Central Asia and aims to expand its fertilizer business into Africa. Engro Corp, with a market capitalization of Rs193 billion ($694 million) and assets totalling Rs802 billion ($2.9 billion), is well-positioned for this growth.
Engro operates in diverse sectors within Pakistan, including energy, fertilizer, telecommunications, and consumer goods. It holds a majority 56% stake in Pakistan’s first LNG terminal, Engro Elengy Terminal Pakistan, established in Karachi in 2015, with the remaining 44% owned by Royal Vopak, a Dutch energy logistics firm.
Despite divesting from its coal-based assets, Engro is committed to further investments in the energy sector and is actively exploring sustainable energy production methods. Dawood mentioned ongoing discussions with technology providers to develop ammonia-based solutions for energy transition. He emphasized the country’s increasing shift to LNG due to rapidly depleting domestic gas supplies.
