KARACHI -  A massive turnaround for Admore Gas (Private) Limited was planned and successfully executed in 2016, which included induction of highly qualified and experienced staff, optimisation and development of retail outlet network and the supply chain, up-gradation of existing storages, construction of new storage facilities and improved financial management.

As a result, Admore Gas displayed phenomenal growth in 2016, achieving a volume growth of a highly impressive 461 percent, as the 2016 volumes grew to 174,000 metric tons as against 31,000 metric tons for the year 2015, said Admore CEO Nadeem Jafarey while addressing a press conference here on Thursday.

Furthermore, in less than a year, Admore paid close to Rs1b out of total defaulted legacy liabilities of Rs2 billion, thereby clearing half its financial liabilities in a very short period of time, he added.

He said the company also undertook major capital expenditure to comprehensively build its storage capacity in the North and South regions of the country.

It has extensively upgraded its Machike storage terminal in Punjab and is currently building its own storage facility at Daulatpur, Sindh, to cater to the retail network requirements in upper Sindh and Baluchistan, he added.

The Daulatpur facility is scheduled for completion by January 31, 2017, the facility will have storage capacity of 3,200 metric tons with additional expansion capacity in future, he added.

Admore plans to begin the new-year on a high note, by launching a complete ‘brand refresh’ on January 1, 2017, to reflect its new progressive outlook and updated identity. This endeavor will effectively communicate the company’s evolved brand vision, and provide greater value and a superior brand experience to its customers and stakeholders, he added.