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UAE company to invest $15 million in local power sector – Daily Times

The leading power sector company, Brother Gas of United Arab Emirates (UAE) to bring an initial investment worth $15 million in refrigerant gasses and ADNOC lubes in Pakistan.

The Board of Investment (BOI) organized a hybrid investment seminar at Pakistan Pavilion, Dubai Expo, which was attended by the local and international business community physically and virtually.

The business community was apprised of investment policies and potential in Pakistan with a focus on technology as well as the Knowledge economy. On the sidelines of this seminar, Federal Secretary BOI, Fareena Mazhar met with the Managing Director of Brother Gas UAE, Kashif Maqsood, one of the leading oil and gas companies in Dubai.

Kashif Maqsood attended the seminar with his five-member senior management team and confirmed their plan to set up a bottling plant at the 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 delegation representing Brother Gas UAE has shared 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 the M3 industrial area in Faisalabad which will serve the local market and facilitate export to neighboring markets from Pakistan. It will include industrial gasses, 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. The investment will help reduce imports and bring FDI through exports to neighboring countries.

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Source: Daily Times

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