Ghani Chemical Industries Limited (GCIL), a manufacturer of medical and industrial gases and chemicals, has 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 developments in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“GCIL has taken the initiative to enter into other areas of business by establishing a 450 tonne (metric tonne) capacity, LPG storage and filling plant at Phool Nagar, Kasur district for operations in all over the country through M/s Ghani Gases (Private) Limited. (GGPL/one of the wholly owned subsidiaries of Ghani Chemical Industries Limited),” the notice read.

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 required formalities/approvals, this subsidiary (GGPL) will in due course commence construction work for setting up of this plant,” it added.

According to the company’s latest financial results, GCIL recorded a profit after tax of Rs303 million in the first quarter of FY25, up from Rs225 million compared to the same period of the previous year. As a result, the company’s earnings per share increased to Re0.61, compared to EPS of Re0.46 for the same period of the previous year.

The company operates four 410 TPD (tonnes per day) air separation plants at Lahore (02) and Karachi (02). It also invested in the construction of a 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 Haripur district, Khyber Pakhtunkhwa.