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Descon Oxychem Limited, one of Pakistan’s major chemical producers, announced on Wednesday that its board of directors has decided that the company will expand its operations in the United Arab Emirates (UAE).
In a notification to the Pakistan Stock Exchange (PSX), the company said: “We are pleased to inform that the board of directors of the company has decided to expand its operations in the UAE to market and sell its products.
“This is subject to the approval of the State Bank of Pakistan (SBP),” the company added, without providing further details.
A few days ago, Descon officially announced its intention to Diversify into the agricultural sector Through the establishment of a division called Descon Agri Businesses (DAB), the division will seek to innovate and improve existing agricultural productivity and agricultural value chains.
Over the decades, Descon has led numerous large-scale projects in construction, power generation, refining, chemical and other diverse sectors of the economy in Pakistan and abroad.
Descon Oxychem Limited was incorporated in 2004 as a private limited company under the Companies Ordinance 1984.
The company manufactures, sources and sells hydrogen peroxide and related products for the mining, textile and food and beverage industries. As well as catering to the local market, the company also exports its products, with the Middle East being the main buyer.
The company started trial production on December 1, 2008 and put into commercial production on March 1, 2009.
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