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.
Historyedit
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]
^ ab"Descon kicks off 40th anniversary celebrations". The News International (newspaper). 15 November 2017. Retrieved 11 December 2019.
^ abcdeShahram Haq (25 December 2017). "Descon plans to venture into South Africa market – The Express Tribune". Retrieved 11 December 2019.
^ abNasir 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:August 21,2018:Descon expands acquiring consulting operations in South Africa
May 13, 2024
descon, engineering, urdu, ڈیسکون, انجینئرنگ, pakistani, conglomerate, headquartered, lahore, engineeringlogo, since, 2008company, typepublictraded, aspsx, dolisinpk0132801017industryconglomeratefoundeddecember, 1977, years, 1977, founderabdul, razak, dawoodhe. Descon Engineering Descon Urdu ڈیسکون انجینئرنگ is a Pakistani conglomerate headquartered in Lahore Descon EngineeringLogo since 2008Company typePublicTraded asPSX DOLISINPK0132801017IndustryconglomerateFoundedDecember 15 1977 46 years ago 1977 12 15 FounderAbdul Razak DawoodHeadquartersLahore PakistanArea servedWorldwideKey peopleTaimur Dawood chairman Taimur Saeed CEO Asad Ashfaq COO Yasir Siddique CFO RevenueUS 28 billion 2023 Operating incomeUS 7 billion 2023 Net incomeUS 4 9 billion 2023 Total assetsUS 22 billion 2023 Total equityUS 14 billion 2023 Number of employees22 000 2023 SubsidiariesDescon Engineering LimitedWebsitedescon com 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 editThe 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 See also editList of companies of Pakistan Pearl GTLReferences edit a b Descon kicks off 40th anniversary celebrations The News International newspaper 15 November 2017 Retrieved 11 December 2019 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 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 Descon Press Release August 21 2018 Descon expands acquiring consulting operations in South Africa Retrieved from https en wikipedia org w index php title Descon amp oldid 1223501062, wikipedia, wiki, book, books, library,
