5 days ago
- Business
- Business Recorder
Ghani Chemical Industries begins commissioning of calcium carbide project
Ghani Chemical Industries Limited announced on Friday that it had formally commenced the commissioning after the setup of the import substitute calcium carbide (and its related products) project under the supervision of Chinese and European experts.
The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX).
The project is located at Hattar Special Economic Zone.
'The project has been built with modern technological standards and is designed to meet both domestic and export market demands of calcium carbide (and its related products), which are key inputs in various industrial processes,' the industry wrote to the bourse.
Ghani Chemical Industries to set up calcium carbide plant in Khyber Pakhtunkhwa
'This milestone marks a significant step towards the commercial operations of this first-of-its-kind project in Pakistan,' it wrote.
In March, the company said it had 'sanctioned the demerger/merger scheme of compromises, arrangement and reconstruction for the transfer of whole of the business and undertaking of 'calcium carbide project' of GCIL with and into GCWL against allotment of 500 shares of GCWL to the shareholders of GCIL against every 1,000 shares of GCIL and transfer of designated assets of Ghani Products (Private) Limited (GPL) with and into GCIL and other related matters'.
Ghani Chemical Industries Limited was incorporated in Pakistan as a private limited company in 2015 and was converted into a public limited company in 2017.
The principal activity of the company is the manufacturing, trading & sale of medical and industrial gases and chemicals.
