Pakistan Oxygen Limited (PAKOXY) in a notification to PSX announced that it has approved an investment plan of about Rs2.5billion to set up a state-of-the-art Air Separation Unit (ASU) in the Northern region of Pakistan. Once commissioned, it will be the Company’s fifth ASU Plant in the country.
The investment includes the Plant and associated storage equipment which would meet the growing demand of Oxygen from Healthcare and Industrial segments as well as demand for other Industrial gases, including Nitrogen and Argon.
Presently, this demand is being met through trunking gases from the Company’s plant in the Central region. The new Plant is expected to come on stream by 2023.