UAE-based oil corporation Brother Gas has announced an initial investment worth $15 million to set up an Aerosol Propellant Gas (APG) plant in Pakistan.
The plan was announced in a meeting in which the Federal Secretary of the Board of Investment (BoI), Farheena Mazhar, met with the Managing Director (MD) of Brother Gas UAE, Kashif Maqsood. The meeting was arranged on the sidelines of an investment seminar at the Pakistan Pavilion, Dubai Expo.
Secretary BOI, Ms. @fareena_mazhar met with Mr. Kashif Maqsood, Managing Director of @BrothersGas, one of the leading oil & gas companies in Dubai. Mr. Maqsood confirmed their plan to set up a bottling plant at Special Economic Zone in Faisalabad. The company..1/2 pic.twitter.com/Rj1ZUm1FE0
— Board of Investment, Pakistan (@investinpak) December 8, 2021
Local and international business communities joined the seminar both physically and virtually. MD Maqsood attended the seminar with his five-member council and confirmed its plan to set a plant up at a Special Economic Zone in Faisalabad. As part of the project, the company will install an APG plant that will cut the cost of imports by manufacturing refrigerant gases and ADNOC lubes locally for the first time in Pakistan.
The UAE delegation led by MD Maqsood stated that it will invest in three phases, with an initial investment of $15 million.
The first phase will include the setting up of a plant in the M3 industrial area in Faisalabad to facilitate the local market and bolster exports to Pakistan’s neighboring markets. The investment will also help to reduce imports and bring the FDI to the neighboring countries via exports.
