Engro was incorporated as Esso Pakistan Fertilizer Company in 1965 by Esso to manufacture fertilizer in Pakistan based on the gas reserves it discovered in 1957 near Daharki, Ghotki District, Sindh.[2]. Subsequently, it was listed on the Karachi Stock Exchange with the shareholding pattern of 75 percent owned by Esso and 25 percent by the general public.[3] The urea plant with the production capacity of 173,000 tons was constructed at the cost of US$43 million. The plant was commissioned in Daharki in 1966 and production began in 1968.[2]
In 1978, Esso's parent company was renamed as Exxon and accordingly Esso in Pakistan was renamed as Exxon Chemical Pakistan.[4]
In 1991, Exxon left Pakistan and its shareholding of 75 percent was acquired by the employees of Exxon Chemical Pakistan in the management buyout.[3]
In 2010, Engro Chemical Pakistan was renamed as Engro Corporation.[5]
In 2015, the National Accountability Bureau (NAB) initiated a case against Engro and several other parties, alleging that the contract for the import and distribution of liquefied natural gas (LNG) awarded to Elengy Terminal in 2013, violated the rules of the Public Procurement Regulatory Authority (PPRA). NAB also accused the then Minister for Petroleum and Natural ResourcesShahid Khaqan Abbasi of abusing his authority, which they claimed could result in a potential loss of $2 billion to the national exchequer.[6] Although the case was closed by NAB in 2016, it was reopened in 2018.[7]
Engro was the first Pakistani company to become a signatory of the UN Global Compact (UNGC) and adopt the Global Reporting Initiative (GRI) framework for measuring and reporting corporate performance on economic, social, and environmental parameters.[8]
In December 2024, Engro Corporation was merged with Dawood Hercules to form Engro Holdings Limited.[9]
Subsidiaries
Engro Fertilizers
Engro Fertilizers is a fertilizer manufacturer in Pakistan.[10] It commissioned EnVen, a single-train urea plant, in 2011.[2][11]
Engro Energy
Engro Energy Limited formerly owned Engro Powergen Qadirpur, a 217-megawatt power plant.[12][13], Engro Powergen Thar, and Sindh Engro Coal Mining Company. It currently owns Engro Energy Services.[14]
Established in 2018, Engro Enfrashare operates more than 3,950 telecommunication towers in Pakistan.[16]
Engro Eximp
Engro Eximp Agriproducts was founded in 2011.[17] It operates a plant for processing and finishing rice.[17]
Engro Eximp FZE, a wholly owned subsidiary of Engro Eximp Agriproducts, began its operations in 2022 in the Jebel Ali Free Zone of Dubai.[18]
Joint ventures
Engro Vopak
Engro Vopak Terminal provides storage for bulk liquid chemicals and liquefied petroleum gas (LPG), with a capacity of 82,400 cubic meters.[19] It is a joint venture with Royal Vopak of the Netherlands.[20]
Engro Elengy Terminal
Engro Elengy Terminal is a joint venture between Engro Corporation and Royal Vopak of the Netherlands, is the first LNG terminal of Pakistan that started operations in March 2015.[21][20]
FrieslandCampina Engro Pakistan
Established in 2006, FrieslandCampina Engro is a joint venture with Royal FrieslandCampina.[11] Its brands include Tarang, Olpers, Omung, and Omoré.[22]
In 2012, Engro Foundation launched I Am The Change Awards to recognize individuals who are working for the betterment of people and hard-hit communities.[24] In 2020, the Foundation also signed a three-year memorandum of cooperation with the Bill and Melinda Gates Foundation to promote the well-being of vulnerable and marginalised segments of society.[25]
Engro's board of directors includes one executive director, five independent directors, and four non-executive directors.[30]Hussain Dawood has been the Engro Corporation chairman since 2006.[31]
References
^"Annual Report 2023"(PDF). Engro Cooperation Limited. 23 February 2024. p. 382. Retrieved 23 May 2024.
^Ashique Ali Jhatial; Nelarine Cornelius; James Wallace (2014). "Corporate Social Responsibility in Pakistan: Corporate Engagements in the Local Community and their Social Impact". In Fukukawa, Kyoko (ed.). Corporate social responsibility and local community in Asia. London, New York: Routledge. p. 118. ISBN978-0-415-62765-8.
^Henderson, James; Gomes, Ieda; Sharples, Jack; Mike, Fulwood; Lambert, Martin (1 September 2020). "Pakistan – Emerging Asia LNG demand". Research Report. Oxford Institute for Energy Studies: 86–100.
^Eweje, Gabriel, ed. (2014). Corporate social responsibility and sustainability: emerging trends in developing economies. Bingley: Emerald Publishing. p. 179. ISBN9781784411510.
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