Korean companies in Pakistan

 

  • In 2009, KP Chemicals now Lotte Chemicals (a subsidiary of Lotte Group) purchased 75 percent shares of Pakistan PTA, located at Port Qasim Karachi, from ICI Omicron B.v. (AkzoNobel). Lotte Chemicals has a plan to increase the PTA capacity from 500,000 ton to 1,300,000 ton (+160%) but investment is pending now because of tariff issue.

 

  • Lotte Confectionery and Kolson Pakistan signed a strategic investment alliance in end October 2010. Kolson has constructed new facility of US$7 million in Lahore. They plan to construct Choco Pie factory worth US$ 160 million in Lahore.

 

  • Lotte Chilsung and Lotte International signed an MOU in 2012 for the fruit juice/ pulp processing business.

 

  • Deokjae Construction Ltd has completed the 67 km Mirpurkhas-Hyderabad dual carriageway, a Public-Private Partnership project of the Sindh Government.

 

  • An agreement was signed on 10 September 2011 between Tuwairqi Steel, Pakistan and POSCO for joint production (DRI Plant), an investment of USD 260 million. The investment by POSCO is to the tune of $15 million.

 

  • POSCO also expressed interest in constructing on-shore LNG terminal. (BOI has conveyed their interest to Ministry of Petroleum). POSCO is also interested in having mining license for iron ore and other mines in Baluchistan.

 

  • Tuwairqi Steel, Karachi reached an agreement with STX for production of up to 0.4~0.5 MTPA of Hot Briquetted Iron (HBI) and an MOU is in the offing with POSCO regarding forward integration of their DRI Plant (Phase II).

 

  • In May 2011, Hyundai Engineering and Daewoo International have been awarded the GEPCO 132 KV Substation project (construction and supply contract) worth US$ 7.79 million. Hyundai Engineering opened its office in Pakistan to ensure the on-shore EPC contract.

 

  • Hyundai Engineering has signed an agreement for up-gradation project with Attock Refinery Limited (ARL) on 11 April 2013 worth US$ 251 million.

 

  • KORAIL supplied NLC 10 used locomotives in 2014.

 

  • Lotte E&C with Sambu Construction, Daelim Industrial and Korea South East Power Company (KOSEP) as consortium have established Special Purpose Vehicle(SPV) for Gulpur Hydropower Project (100 MW). The project business model is BOT

 

  • Sambu Construction has got go ahead for 107 MW, US$ 130 million Golen Gol hydropower project in Chitral (civil works component).

 

  • Samsung C&T have submitted LOI’s to Federal & Punjab Governments for EPC and support for project financing for 2X660 MW Super Critical Coal Fired Plants in November, 2013.

 

  • Posco Engineering has won contract of US$ 30 million for civil works for ship lift and transfer system at Karachi ship yard on 7 January 2014. This is joint venture of POSCO (70%) and Tuwairqi Steel Mills (30%).

 

  • CK Solar had signed MOA with Government of Balochistan for 300 MW solar power plant near Quetta on 15 December 2013. It is expected that total investment by consortium would be USD 375 million. The project will be developed on PPP and BOOT mode. They are also developing Hybrid Solar Solutions for domestic consumers and solar power water farm.

 

 

 

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