Descon

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Descon Engineering
Company typePublic
PSX: DOL
ISINPK0132801017
Industryconglomerate
FoundedDecember 15, 1977; 46 years ago (1977-12-15)
FounderAbdul Razak Dawood
HeadquartersLahore, Pakistan
Area served
Worldwide
Key people
RevenueIncrease US$28 billion (2023)
Decrease US$7 billion (2023)
Decrease US$4.9 billion (2023)
Total assetsDecrease US$22 billion (2023)
Total equityDecrease US$14 billion (2023)
Number of employees
22,000 (2023)
SubsidiariesDescon Engineering Limited
Websitedescon.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 15th of 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[edit]

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]

Descon Engineering Group Companies[edit]

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 specializing in the manufacturing, procurement, and sale of hydrogen peroxide and related products for various industrial applications (source needed).
  • Descon Engineering Qatar LLC (founded 2002): A Qatari branch of Descon, providing engineering, construction, and plant maintenance services across diverse projects in the country. They employ over 4,000 personnel and operate a dedicated fabrication workshop (source needed).
  • 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 (source needed). This collaboration offers a comprehensive range of technical, engineering, and maintenance services across various sectors.
  • Olayan Descon Industrial Company (ODI) (founded 1981): A joint venture with Olayan Saudi Holding, established as a leader in integrated engineering and industrial services across the Middle East. Their expertise includes equipment manufacturing, plant maintenance, and electrical/instrumentation services (source needed). They contribute to regional self-sufficiency through localized manufacturing processes, particularly for environmentally friendly Vapor Recovery Units (source needed).
  • Presson Descon International Limited (PDIL): A prominent player in Pakistan's oil and gas industry, offering integrated Engineering, Procurement, Construction, and Commissioning (EPCC) services for production & processing plants, utilities, refining, and storage facilities (source needed).

See also[edit]

References[edit]

  1. ^ a b "Descon kicks off 40th anniversary celebrations". The News International (newspaper). 15 November 2017. Retrieved 11 December 2019.
  2. ^ a b c d e Shahram Haq (25 December 2017). "Descon plans to venture into South Africa market – The Express Tribune". Retrieved 11 December 2019.
  3. ^ a b Nasir Jamal (8 January 2018). "Descon head wants a level playing field under CPEC (China-Pakistan Economic Corridor)". Dawn (newspaper). Retrieved 11 December 2019.
  4. ^ Descon:Press Release:August 21,2018:Descon expands acquiring consulting operations in South Africa
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