Urea makers plan $300m investment to ensure gas

KARACHI: A consortium of Engro Fertilisers Ltd (EFL), Fatima Fertilisers and Fauji Fertilisers will invest over $300 million in the Gas Pressure Enhancement Facilities (GPEF) project at the Mari network to ensure the availability of gas for domestic urea production and safeguard the food security. “Our expected share in capital expenditure in this project is over $100m, Engro Fertilisers Chief Financial Officer Ali Rathore informed a media workshop on Thursday. He pointed out that even though Pakistan has the fifth highest urea consumption in the world, it is not investing in capacity growth despite a rapid surge in population. To encourage further capacity expansion by fertiliser manufacturers, there is a dire need to introduce a consistent and homogeneous policy for gas pricing for the industry.