Karachi December 5 2022: The Board of Directors of Engro Corporation Limited has authorized the Company to pursue (directly or indirectly, through one or more of its group companies) a potential investment opportunity in the tower infrastructure sector in Pakistan.
This opportunity remains subject to certain conditions, including inter alia further due diligence, finalization and execution of definitive documents as well as receipt of all regulatory consents and approvals.
Expansion continued for the telecommunication infrastructure vertical at Engro, with Engro Enfrashare growing its national tower-print to 3,132 sites by the end of September 2022, servicing all of Pakistan’s mobile network providers. This doubled the revenue growth of Engro Enfrashare in 9M 2022 in comparison to the same period last year.
Engro Enfrashare is well-positioned to enable the colocation model, while enhancing services to all customers as reflected in the 139% hike in colocation tenants versus last year. Engro Enfrashare is on track to capture future sectoral growth with its high value-add proposition, complemented by economies of scale.