Karachi: The Board of Directors of Pakistan Oxygen Limited (POL), in a meeting on Monday has approved an investment plan of about Rs. 417.5 million for setting up a new electrode manufacturing plant in Karachi.

The POL is one of the country’s leading suppliers of industrial and medical gases. It has informed that the plant would feature the latest European technology and is expected to commence production by early 2022.

Moreover, the creation of the electrode manufacturing facility will play a vital role in driving employment opportunities for locals as well as boost the production of various tools and batteries that rely on electrodes.

"It is already engaged in the manufacture of quality welding consumables and sale of welding machines and allied accessories," added company.

The company further stated that with the proposed expansion, the company’s capacity and capability in the welding and hard goods segment will be enhanced to better meet the growing demand for quality electrodes in the Pakistan.

Earlier in November 2020, POL approved an investment plan of about Rs. 6.3 billion to set up the latest and the most energy-efficient Air Separation Unit in its class.

“The Plant is superior due to higher capacity, better Specific Power Consumption (SPC), product quality, reliability, and advanced control system,” said the company.