Engro Powergen Thar Private Limited (EPTL) was formed in 2014 to set up a 2x330MW power project in Thar Block II, Sindh, Pakistan. The company is a joint venture between Engro Powergen Ltd (EPL) (with 50.1% ownership), China Machinery Engineering Corporation (CMEC), Habib Bank Ltd (HBL), and Liberty Mills Limited.
EPTL’s power project will be the pioneering project in generating electricity using indigenous lignite coal from the Tharparkar district. An opencast mine in Thar is being developed by Sindh Engro Coal Mining Company (SECMC), which will supply 3.8 Mt/a coal to EPTL. The mining project is currently in the overburden removal stage and is expected to achieve commercial operations by June 2019.
The power complex is expected to begin supplying electricity to the national grid, that is, commence commercial operations, by June 2019. It is designed to deliver gross capacity of 2×330 MW to the grid’s 500kV double circuit transmission line from Thar to Matiari on to Jamshoro/Moro.
Ahsan Zafar Syed is the CEO of Engro Powergen Thar Private Limited and the acting CEO of Engro Energy Limited – the wholly owned subsidiary of Engro Corporation. He is also the Senior Vice President in Engro Corporation and a member on the Executive Committee which acts in an advisory capacity to the President of the Engro group. Ahsan also serves as a Director on the Boards of Tenaga Generasi Limited; Thar Foundation and Engro Powergen Thar Private Limited. In the past he has also served as a Convenor for the Light Engineering Goods sector in the Engineering Development Board.
Armed with an under-graduate degree in Mechanical Engineering from Karachi’s NED University of Engineering and Technology with a subsequent post-graduate degree in Fluid Mechanics (Mechanical Engineering) from Manhattan College, New York, USA, Ahsan has a combined professional experience of over 28 years. His expertise lies in project management, design, construction and execution of large, complex manufacturing and industrial complexes.
Ahsan started off his professional career with Engro (then Exxon Chemicals Limited) in 1991 when he joined the team as a Purchase Officer and climbed through the corporate ladder to be part of the lead team executing the USD 1.1 billion EnVen Project for Engro Fertilizers Limited. Regarded as one of the largest corporate sector development projects then, Ahsan was critical in managing and handling all construction related activities of the new fertilizer complex. It was during this time that Ahsan Zafar earned the reputation of being “Mr. Fix-It” which made him to be rotated across the group’s plants and complexes which required a turnaround.
Post the EnVen commissioning, Ahsan had a brief stint working on the group’s Alternate Energy division in the energy vertical and the manufacturing plant of Engro Foods, before being asked to head the manufacturing side of Engro Eximp Agriproducts – the rice processing facility of the Engro group located at Muridke – Punjab. Using his business acumen and attention to detail, Ahsan executed a stellar turnaround in the processing unit of the rice business, laying a solid foundation for the business’ strong performance in the years ahead.
In 2014, Ahsan was tasked yet again to head Engro’s second foray into the energy vertical – the development of Engro Powergen Thar Private Limited’s (EPTL) two 330MW coal-fired power plant in Tharparkar, Sindh. Regarded as a critical project under the early-harvest initiatives of the China Pakistan Economic Corridor (CPEC) framework, EPTL is a billion-dollar project with majority shareholding of Engro Energy. Expected to come online in the middle of 2019, the EPTL plant will be the first power plant to use indigenous energy molecules of Pakistan – the Thar coal.
As an individual, Ahsan is a social extrovert who likes to network and meet new people and learn from their diverse ideas, opinions and experiences of life. In his free time, he loves to read – be it fiction, non-fiction or magazines dealing with lifestyle or current affairs. He is also a music enthusiast and enjoys listening to different kinds of music – both old and the new. Ahsan’s personal philosophy of life revolves around making the best of what one has and enjoying life to the fullest.
Although a fan of travelling, Ahsan lives in Karachi together with his family.
Hasnain Moochhala joined Engro Corporation Limited as Chief Financial Officer in June 2017. Prior to that, he has had vast experiences in Commercial Finance, M&A, Corporate Governance, Treasury and Audit over 30 years across Europe and Asia. The last 20 years of his career was with Royal Dutch Shell in various roles including Finance Director Shell Pakistan, Head of Finance for Shell Lubricants Asia Pac, Head of Downstream M&A East and Finance Manager Upstream Joint Ventures.
Hasnain has partnered with businesses of significant size across China, South and East Asia, delivering turnaround business performance whilst ensuring robust business controls and compliance in matrixed organizations. His key achievements in prior roles include the delivery of material M&A transactions, the formulation of global best practice in Joint Venture Governance, cost leadership and the building of strategic partnerships with various stakeholders. Hasnain has also led, coached and mentored teams in Singapore and Pakistan, as well as virtual teams across Asia Pacific and Europe.
Atif Kaludi is a Chartered Accountant by qualification with 15 years of experience and is presently the Chief Financial Officer of Engro Fertlizers Ltd, a publicly traded enterprise and a part of the Engro Group. Engro is one of the largest conglomerates of Pakistan and has diversified itself in businesses including fertilizers, chlor-vinyl, foods, power generation, chemical handling and commodity trading. Kaludi has served Engro Powergen Qadirpur Limited and Engro Polymers in the past.
Atif received his CA training at one of the big fours i.e. Ernst & Young Pakistan. In his professional experience he has not only covered all areas of finance but has also worked outside his core area of expertise in inventory management function as a rotational assignment at Engro.
Javed Akbar is a Chemical Engineer and has over 40 years of experience in fertilizer and chemical business with Exxon, Engro and Vopak in Pakistan and overseas. He was part of the buyout team in 1991 when Exxon divested its stake in Engro.
Prior to his retirement in 2006, he was Chief Executive of Engro Vopak Terminal Limited, a joint venture between Engro and Royal Vopak of Holland. After retirement, he established a consulting company specializing in analyzing and forecasting petroleum, petrochemical and energy industry trends and providing strategic insight.
He currently serves on the board of companies involved in fertilizer, petroleum, power and renewable energy. He joined the EPQL Board in 2010.