Descon acquires stake in South African firm

Published: August 30, 2018
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Descon is planning to increase its shareholding in PDPS to 49% and its management intends to visit South Africa later this year to explore further opportunities in the region.

PHOTO:REUTERS

Descon is planning to increase its shareholding in PDPS to 49% and its management intends to visit South Africa later this year to explore further opportunities in the region. PHOTO:REUTERS

LAHORE: Descon has recently acquired 26% stake in Plant Design and Project Services (PDPS), a South African company that provides a comprehensive range of technical, engineering, maintenance and project management services to power, chemical and petrochemical industries.

With the purchase, the PDPS board will now include two Descon nominees.

Descon and PDPS successfully completed a project at a Sasol Limited’s facility in Secunda, South Africa prior to this acquisition, in which 75 Descon personnel were involved. “Our association with PDPS is the culmination of two years of strategy and efforts to enter the African market,” said Descon Engineering Limited CEO Faisal Dawood. “This is an exciting new chapter for us and we are looking forward to steering our growth.”

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Descon is planning to increase its shareholding in PDPS to 49% and its management intends to visit South Africa later this year to explore further opportunities in the region.

Descon Engineering President Maintenance Division Anwarul Haq said that this acquisition was aligned with their vision to expand Descon’s global presence. “Our belief is that by expanding our services globally, we will not only benefit from a greater market reach but also from the knowledge that will be acquired from these new markets.”

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Descon is a multinational conglomerate with interests in the power, chemical and engineering industries, with allied interests in inspection and testing.

Published in The Express Tribune, August 30th, 2018.

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