Engro to invest Rs 7.5 billion in Telecom Sector

Engro Corporation one of Pakistan’s largest conglomerates has announced to enter the telecommunication market with initial investment of more than Rs 7.5 billion. This year the company posted a consolidated profit-after-tax (PAT) of Rs 6,565 million
Engro Corporation, in light of its long-term strategy, has streamlined its businesses in four verticals namely Food and Agriculture, Energy and Related Infrastructure, Petrochemicals and Telecommunications Infrastructure; focused on creating value and helping Pakistan resolve these pressing issues.

In order to develop potential business opportunities in the telecommunications infrastructure vertical, the company had earlier set up Enfrashare (Private) Limited. Enfrashare will accelerate development of the country’s connectivity infrastructure, thereby providing an opportunity for people to be part of the new digital era. As an initial investment, Enfrashare will engage in the acquisition & construction of shared telecom towers, provision of various telecommunication infrastructure and related services, including state of the art network monitoring solutions. To enable this, the Directors have approved an investment of Rs 7.5 billion in this vertical
Announcing the news, Ghias Khan, President and CEO Engro Corporation said, “The growth and prosperity of Engro is intertwined with the growth of Pakistan”