Chevron Pakistan Lubricants, one of the country's leading lubricant firms, would invest over Rs 2 billion (approx $19 million) in Pakistan over the next three years to expand its business. An indirect subsidiary of international-acclaimed integrated energy firm Chevron Corporation, Chevron trades in Pakistan under the brand names of Caltex, Havoline and Delo.
The company's "confirmed" investment plans, Chevron officials view, would put to rest the market "mood" that the lubricant giant was pulling out of Pakistan, which's credit rating and overall business climate have been "very positive" over last 18 months. "Chevron is investing and is serious to take its business forward in Pakistan," Chairman Chevron Muhammad Najam Shamsuddin told reporters here at a hotel on Wednesday. His company, Muhammad added, firmly believed in a secure and long-term future in Pakistan.
The company envisages the fresh investment to upgrade and expand its Lubricants Blending plant in West Wharf, Karachi, besides converting its other countrywide facilities into state-of-the-art establishments. "We are expanding and enhancing our existing capacity keeping in mind the growth prospects in this country," said Muhammad, who also is Chevron's area business manager in Pakistan.
Chevron, the chairman said, aimed at continuing investment and providing world-class products and services to its local customers. "We have an over 75 years' legacy of service in this region, and are committed to sustain and grow in the Pakistani markets." As part of its growth strategy in Pakistan, Chevron has developed a chain of 65 oil change facilities across the country, and plans to continue with the exponential growth and further broaden the network in 2016.
Chevron, having employed 64,000 people from world over, recently opened its 14,500 sqm head office here at Harbor Front. To further invest in its future in Pakistan, the company has launched a brand new, innovative advertising campaign this month for its premium product Havoline.
In addition to being a positive contributor to the country's economic growth, Chevron also has recently implemented social investment programmes in primary and secondary school education, higher education, sports and environmental development. "It is a Rs 10 million plus social investment for the development of the country," he told reporters. By continued significant investment in its facilities, products, work force and Corporate Social Responsibility initiatives, Chevron, the chairman said, reiterated its firm commitment to a strong long-term presence and an even brighter future in Pakistan.
Comments
Comments are closed.