20000411

BOC Pak ties up

with Parco to supply

purified nitrogen

RECORDER REPORT

KARACHI: BOC Pakistan has entered into a long-term supply contract with Parco for the supply of high purified nitrogen to their mid-country refinery project at Mahmood Kot.

This investment is under fast progress and a state-of-the-art production facility is being erected at Parco site for this purpose, said a spokesman for BOC Pakistan Ltd.

Civil work is at an advanced stage and a new plant has already been shipped from the USA.

The facility is expected to be on-stream shortly. "This is a significant opportunity for the Corporation in the petroleum sector, where the company will be supporting the largest refinery operation in the country," said the spokesman.

The BOC Pakistan earned a after-tax profit of Rs 245.7 million in the year ended December 31, 1999.

The Company's pre-tax profit was about Rs 409.8 million compared with Rs 340.3 million last year. Its sales increased from Rs 1.02 billion to Rs 1.145 billion this year.

The company paid a dividend of Rs 104 million compared with last year's higher dividend of Rs 108 million.