ISLAMABAD: A delegation representing Brother Gas UAE has shared with the Board of Investment (BOI) that they will be investing in three phases, with an initial investment of $15 million.
The first phase will include setting up a plant in M3 industrial area in Faisalabad which will serve the local market and facilitate export to neighboring markets from Pakistan.
It will include industrial gases, with more than 1000 products. They will install an Aerosol Propellant Gas “APG” plant which will be manufacturing the much needed APG within Pakistan instead of importing the same.
BOI organized a hybrid investment seminar on Monday, 6th December at Pakistan Pavilion, Dubai Expo, which was attended by local & international business community physically and virtually.
The business community was apprised on investment policies and potential in Pakistan with focus on technology as well as Knowledge economy.
On the sidelines of this seminar, Secretary BOI, Ms. Fareena Mazhar met with Kashif Maqsood, Managing Director of Brother Gas UAE, one of the leading oil and gas companies in Dubai.
Maqsood attended the seminar with his five member senior management team and confirmed their plan to set up a bottling plant at Special Economic Zone in Faisalabad.
Board of Investment has been facilitating the organization previously and has assisted in applying for a Plot in Faisalabad Special Economic Zone (SEZ). BOI’s close coordination with the organization has resulted in the organization announcing its plan to invest in Pakistan.
The investment will help reduce imports and bring Foreign Direct Investment (FDI) through exports to neighboring countries. This project will also lead to the introduction of refrigerant gasses and ADNOC lubes for the first time in Pakistan. Secretary BOI has termed this potential investment as a major breakthrough for attracting FDI in Pakistan.