Ghani Chemical Industries Limited (GCIL), a manufacturer of medical and industrial gases and chemicals, announced plans to set up a Liquefied Petroleum Gas (LPG) storage and filling facility in Punjab.

The listed company, which aims to venture into other businesses, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“GCIL has stepped forward to enter into other business areas by setting up of 450 MT (metric tons) capacity, LPG storage and filling plant at Phool Nagar, district Kasur for operations all over the country through M/s Ghani Gases (Private) Limited (GGPL/ one of the wholly owned subsidiary of Ghani Chemical Industries Limited),” read the notice.

The company informed that its subsidiary, GGPL, has also obtained a license from the Oil and Gas Regulatory Authority (OGRA) in this regard.

“After completing other requisite formalities/approvals, this subsidiary (GGPL) will commence construction work for setup of this plant in due course of time,” it added.

As per the company’s latest financial results, GCIL posted a profit after taxation of Rs303 million in the first quarter of FY25, against Rs225 million in comparison with the same period of the previous year. Accordingly, company’s earnings per share increased to Re0.61 compared to an EPS of Re0.46 in the same period of the previous year.

The company runs four 410 TPD (tons per day) air separation plants at Lahore (02) and Karachi (02). It has also invested to build a sizeable fifth 275 TPD ASU plant in the KPK region capable of producing liquid oxygen, liquid nitrogen and liquid argon simultaneously.

Last year, GCIL informed its stakeholders that it would set up Pakistan’s largest ASU plant in Hattar Special Economic Zone, located in District Haripur, Khyber Pakhtunkhwa.