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Engro Corp, Pakistan’s largest conglomerate, is gearing up for a major expansion into new markets, with plans to venture into the Middle East, Central Asia, and Africa. The company’s largest investor, Dawood Hercules Corp, is backing this ambitious move, which includes exploring opportunities in global liquefied natural gas (LNG) and hydrogen energy.

In a rare interview with Reuters, Samad Dawood, vice chairman of Dawood Hercules Corp, revealed that Engro Corp is eyeing telecoms infrastructure in the Middle East, North Africa, and Central Asia, while also looking to expand its fertilizer businesses in Africa. With a market capitalization of 193 billion rupees ($694 million) and assets worth 802 billion rupees ($2.9 billion), Engro Corp is a major player in Pakistan’s business landscape.

One of Engro Corp’s key assets is its ownership of 56 percent of Pakistan’s first LNG terminal, Engro Elengy Terminal Pakistan, which plays a crucial role in meeting the country’s natural gas demand. Despite selling its coal-based assets, the company remains committed to investing in the energy sector and is exploring sustainable energy production avenues, including hydrogen energy.

Dawood emphasized that Pakistan still faces energy security challenges and there are ample opportunities for further investment in the power sector. The company is in talks with technology providers in the hydrogen energy sector to explore the use of ammonia as an energy transition solution.

The global expansion plans of Engro Corp are deeply rooted in the vision of Samad Dawood’s late elder brother, Shahzada, who tragically lost his life in a deep-sea exploration mission. Inspired by Shahzada’s dreamer spirit, the company is pushing towards international growth and engagement with the outside world.

The Dawood family also recently emerged from a legal battle in Pakistan, where the company faced accusations of receiving illegal favors from the government. After years of legal proceedings, the case was finally dropped by the country’s accountability watchdog, allowing the company to move forward with its expansion plans.

To facilitate its growth strategy, Engro Corp and Dawood Hercules have approved a restructuring plan that will provide more capital flexibility and seamless flow of funds between the two organizations. This restructuring will enable Engro to explore opportunities arising from multinational corporations divesting from Pakistan’s markets.

With a strong foundation in multiple sectors, including energy, fertilizer, telecommunications, and consumer goods, Engro Corp is poised to make a significant impact in new markets and drive innovation in the global energy landscape. As the company embarks on this exciting journey, it remains committed to sustainable growth and contributing to the development of the regions it operates in.