PSO inks deal with Petrosin for LPG supply

KARACHI: Pakistan State Oil (PSO) has signed agreement with a Singapore-based company Petrosin to sell liquefied petroleum gas (LPG) from its fuel stations, PSO said on Monday. Petrosin will invest around Rs8 billion to build storage tanks and dispensers at 200 fuel stations of the PSO in the next two years, Irfan Qureshi, PSO Managing Director, told The News.

“This is a big step for the PSO. The CNG business is no longer viable as every time in winter there is a gas shortage,” he said. “We will target to bring diesel-run vehicles to use LPG.” He said it will take some time for manufactures of LPG auto kits to set up businesses. But, he added, once LPG auto stations start operation the industry will prop up itself.

Nishat Mills to acquire two thermal plants

KARACHI: Nishat Mills Limited, the largest composite textile mill in the country, announced on Monday that the company had entered into an agreement with AES Pakistan Holdco Limited to acquire ‘substantial majority shareholding’ in two thermal power plants owned by the AES.

Those included AES Lalpir (Private) Limited and AES Pak Gen (Private) Limited.

Both the AES thermal power stations were stated to be located in Mahmood Kot, Muzaffargarh ‘adjacent to each other’ and were identical in design as both were constructed by the same EPC contractor, i.e. Nichiment of Japan and MIU.