Karachi, Pakistan — November 12, 2025 — Dubai-based PTA Global Holding — a joint venture between Montage Commodities FZCO and AsiaPak Investments — has successfully completed the acquisition of Lotte Chemical Pakistan Limited (PSX: LOTCHEM), one of Pakistan’s leading petrochemical producers.
The acquisition marks the beginning of an exciting new chapter in the company’s journey — one defined by innovation, operational excellence, and strategic growth, positioning Lotte Chemical Pakistan as a key industrial growth agent for PET and PSF customers in Pakistan.
A Message from the Chairman
“Our vision is to take Lotte Chemical Pakistan to new heights of success,” said Dr. Imtiaz Ahmed, Chairman, Lotte Chemical Pakistan. “We are embarking on a series of high-impact modernization projects that will enhance performance, efficiency, and competitiveness of our PTA plant at Port Qasim. These investments will not only improve productivity but also position Lotte Chemical Pakistan as a benchmark for industrial excellence in the region.”
Dr. Ahmed emphasized that the new management is committed to strengthening Pakistan’s industrial foundation through sustainable growth, technological advancement, and export-driven competitiveness, ensuring that both shareholders and employees benefit from the planned investments in the company.
CEO’s Vision for Transformation
Adnan Afridi, a well-known and successful corporate leader, has been appointed as the Chief Executive Officer (CEO) of Lotte Chemical Pakistan. Representing the consortium, he will lead the company’s ambitious plans for transformation, growth, and diversification.
“Our immediate focus is on operational excellence and sustainable profitability,” Afridi said. “We are optimizing plant efficiency, improving reliability, and integrating advanced energy-saving technologies that will significantly reduce our production costs. This is not just about growth — it’s about setting a new standard of performance for the chemical sector in Pakistan.”
He added that improving operational efficiencies and energy-related initiatives will make the company more competitive and a key growth partner for Pakistan’s polyester and packaging industries. Beyond internal improvements, Lotte Chemical Pakistan also plans aggressive growth through mergers and acquisitions (M&A) to enable diversification and scale, reinforcing its role as a national industrial leader.
Strategic Partnership and Investment Commitment
Mr. Shehryar Chishti, a leading industrialist and partner in the new ownership consortium, reaffirmed his confidence in Pakistan’s industrial potential:
“This acquisition represents a long-term commitment to Pakistan’s petrochemical and manufacturing future. We see enormous opportunity to build on Lotte’s strong foundation by investing in modern technologies, energy efficiency, and expansion into high-value downstream products.”
Mr. Chishti added that this transaction sends a strong signal to capital markets and policymakers about renewed investor confidence in Pakistan’s industrial sector, and that the consortium’s vision aligns with national priorities for industrial modernization and sustainable export growth.
A New Era of Investment and Innovation
Under the new leadership, Lotte Chemical Pakistan plans to initiate a series of transformative projects focused on:
- Operational Excellence: Upgrading process technologies to increase output and reliability.
- Energy Efficiency: Integrating sustainable energy recovery and green power systems to lower energy costs and carbon footprint.
- Productivity Enhancement: Optimizing processes and automation to boost plant utilization and yields.
- Competitiveness & Exports: Expanding into value-added derivatives and enhancing Pakistan’s export position in the global polyester and packaging industries.
- Strategic M&A Growth: Pursuing acquisitions and partnerships to diversify and scale operations.
These initiatives reflect the company’s long-term commitment to national industrial development and represent a major reinvestment of capital and expertise into Pakistan’s manufacturing base.
Commitment to Stakeholders and the Economy
Lotte Chemical Pakistan remains a cornerstone of Pakistan’s petrochemical value chain, supplying high-quality Purified Terephthalic Acid (PTA) to the polyester, textile, and packaging industries. The company’s modernization roadmap is expected to enhance domestic value addition, reduce dependence on imported raw materials, generate employment, and strengthen Pakistan’s export competitiveness.
Dr. Imtiaz Ahmed added: “Our collective vision — shared by Adnan Afridi, Shehryar Chishti, and our partners — is to make Lotte Chemical Pakistan a symbol of innovation, discipline, and global competitiveness. We are here to build a legacy of progress, not just profitability.”
About Lotte Chemical Pakistan
Lotte Chemical Pakistan Limited, formerly Pakistan PTA Limited, operates one of Pakistan’s most advanced PTA production facilities at Port Qasim, Karachi. PTA is a key raw material for polyester fiber, textiles, and PET packaging — vital sectors in Pakistan’s export economy.
Under the ownership of PTA Global (Dubai), the company is poised to enter a new era of modernization, operational efficiency, and diversified growth that will benefit all stakeholders.
