Engro, Pakistan’s largest conglomerate, has teamed up with Veon to expand telecom infrastructure through tower sharing, with plans to explore additional use cases such as EV charging and drone landing. According to Samad Dawood, Vice Chairman of Dawood Hercules, this partnership aims to better utilize telecom infrastructure in Pakistan and eventually enter international markets spanning from Morocco to Central Asia.
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The deal, valued at $188M and backed by macroeconomic improvements, marks Engro’s largest transaction in rupee terms. With falling inflation (4.9%) and interest rates (15%) alongside an ongoing IMF program, Dawood stated that Pakistan is becoming an attractive investment market. Together, Engro Enfrashare’s 4,063 towers and Veon’s 10,500 towers promise to reshape Pakistan’s telecom sector while paving the way for international opportunities.
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