Karachi, March 10, 2026 – Lotte Chemical Pakistan Limited has announced its intention to acquire a 56.19% controlling stake in Engro Polymer and Chemicals Limited (EPCL), signaling a major development in Pakistan’s chemical and polyester industry.
The intention to acquire shares was formally communicated to EPCL’s Board of Directors on March 10, 2026, and the notification has been submitted to the Pakistan Stock Exchange (PSX). The acquisition is expected to exceed thresholds outlined under Section 111 of the Securities Act, 2015, and has been disclosed to shareholders under Regulation 5(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Lotte Chemical Pakistan Limited operates a state-of-the-art Purified Terephthalic Acid (PTA) plant at Port Qasim, with an annual production capacity of 500,000 tons. The company is a key supplier to the domestic polyester and PET industries, providing raw material critical for manufacturing processes and contributing to downstream industrial growth and foreign exchange savings for Pakistan.
The PTA plant operates under a technology license from Invista Performance Technologies (IPT), sourcing feedstock from reputable international suppliers. Through this acquisition, Lotte Chemical aims to consolidate its position in Pakistan’s chemical sector, enhance operational efficiency, and strengthen domestic supply chains.
Industry analysts view this move as a strategic step that could reshape the local polymer and chemical markets, increase investor confidence, and potentially boost Pakistan’s export capabilities in the polyester and PET sectors.
The PSX has made the disclosure publicly available for EPCL shareholders, allowing investors to evaluate the proposed transaction and its implications on corporate control, governance, and market performance.
This development underscores the growing interest of multinational and regional chemical manufacturers in Pakistan’s industrial sector, reflecting confidence in long-term growth prospects and continued investment in domestic production capacities.