Islamabad: According to a press release, Prime Minister Imran Khan inaugurated a 100,000-tonne PVC III factory of Engro Polymer and Chemicals (EPCL) on Friday, which will enable import replacement of polyvinyl chloride (PVC) and enhance exports.

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Prime Minister Khan, speaking at the event, stated that the government supports the expansion of local businesses in order to ensure import substitution and increase exports. To encourage long-term economic growth, he advised the business community to concentrate on import substitution and diversification of the export base.

EPCL, a subsidiary of Engro Corporation, is Pakistan’s only fully integrated chlorvinyl chemical complex and PVC producer.

The International Finance Corporation (IFC) provided up to $50 million in finance for the plant expansion, which drew on global project execution skills from a Japanese licensee and a Chinese construction team.

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EPCL now has the capacity to produce 295,000 tonnes of PVC per year. EPCL will now contribute roughly $240 million to import substitution, according to the press release.

In 2021, the company also shipped PVC resin worth $25 million to Turkey and the Middle East. PVC demand has increased at a rate of 6% per year, with the building sector accounting for almost 70% of total use.

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