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Engro Corporations stated that will be strengthening the equity investment in the telecom infrastructure vertical to Rs21.5 billion. As per Pakistan Stock Exchange, with the help of this investment, the company will make a wholly-owned subsidiary Engro Connect.
A company spokesperson confirmed that the last equity injection was Rs14bn which came after the Rs7.5bn investment announced in April. E-connect will be completely responsible for Engro Enfrashare that is Pakistan’s largest telecom tower firm.
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