Descon
| File:Descon logo.png Logo since 2008 | |
| Company type | Public |
|---|---|
| PSX: DOL | |
| ISIN | PK0132801017 |
| Industry | conglomerate |
| Founded | 15 December 1977 |
| Founder | Abdul Razak Dawood |
| Headquarters | Lahore, Pakistan |
Area served | Worldwide |
Key people | |
| Revenue |  US$28 billion (2023) |
 US$7 billion (2023) | |
| US$4.9 billion (2023) | |
| Total assets | US$22 billion (2023) |
| Total equity | US$14 billion (2023) |
Number of employees | 22,000 (2023) |
| Subsidiaries | Descon Engineering Limited |
| Website | descon.com |
Descon Engineering (Descon) (Urdu: ڈیسکون انجینئرنگ) is a Pakistani conglomerate headquartered in Lahore.
This company was first established in 1977, now it has been grown into a diversified group. Today, the company operates as a group in a range of sectors, including engineering, power, and chemicals. The company was founded on 15 December 1977. It operates in the engineering, power and chemical sectors.[1] Descon is the only Pakistani engineering company to be included in the Engineering News-Record (a US magazine) list since 2007.
History
The company was founded by Abdul Razak Dawood as Design Engineering and Construction Services (Descon) in 1977. The initial capital used for starting this startup was Rs. 3.2 million. [2] From this, they expanded into three sectors and now they are operating in UAE, Qatar, Saudi Arabia, Kuwait, Oman, Iraq and South Africa.[2]
The company got its first contract when Attock Refinery asked to set up a small refinery in 1978.[2] In 1981, they got a bigger four-year project of National Refinery which helped the company to expand.[2]
In 1982, they tried to expand to regional markets, where they helped a Saudi company and afterwards got a small project in Abu Dhabi. By 2018, this company was generating 60% of its income from overseas markets which helped the company grow to be a billion-dollar company.[2][3]
In 2018, Descon expanded its footprint into South Africa by acquiring 26% of Plant Design and Project Services (PDPS), an engineering firm there.[3][1][4]
Subsidiaries
Descon Engineering operates as part of a wider group of companies, each with a specific area of focus within the engineering and industrial sectors. Some notable subsidiaries include:
- Descon Oxychem Limited (DOL) (founded 2004): A Pakistani chemical company
- Descon Engineering Qatar (LLC) (founded 2002): A Qatari branch of Descon
- Descon Plant Design and Project Services (PDPS): A division of Descon Engineering formed through a strategic acquisition of a 26% stake in a South African PDPS company
- Olayan Descon Industrial Company (ODI) (founded 1981): A joint venture with Olayan Saudi Holding
- Presson Descon International Limited (PDIL)
See also
References
- ^ 1.0 1.1 "Descon kicks off 40th anniversary celebrations". The News International (newspaper). 15 November 2017. Retrieved 11 December 2019.
- ^ 2.0 2.1 2.2 2.3 2.4 Haq, Shahram (25 December 2017). "Descon plans to venture into South Africa market". The Express Tribune. Retrieved 15 September 2024.
- ^ 3.0 3.1 Nasir Jamal (8 January 2018). "Descon head wants a level playing field under CPEC (China-Pakistan Economic Corridor)". Dawn (newspaper). Retrieved 11 December 2019.
- ^ Descon:Press Release:21 August 2018:Descon expands acquiring consulting operations in South Africa
External links
- Official website
- Business data for Descon Engineering Limited.: SECP fillings
- Short description with empty Wikidata description
- All Wikipedia articles written in Pakistani English
- Use dmy dates from December 2019
- Pakistani companies established in 1977
- Construction and civil engineering companies of Pakistan
- Pakistani brands
- Multinational companies headquartered in Pakistan
- Construction and civil engineering companies established in 1977
- Chemical companies of Pakistan
- Electric power companies of Pakistan
- Chemical companies established in 1977
- Privately held companies of Pakistan