Pakistan Petroleum Limited (PPL) has commenced the execution phase of the Barite, Lead & Zinc (BLZ) Project, a joint venture between PPL as operator and the government of Balochistan. The milestone was marked by the signing of a Project Management Consultancy contract with DMT Germany, a globally renowned engineering services firm, according to a press statement.
Agreement Signed by Top Officials
MD & CEO PPL Mohammad Khalid Rehman signed the agreement with Florian Beier, Head of DMT Germany. The contract appoints DMT Germany as the Project Management Consultant for the BLZ Project, reflecting PPL's commitment to international standards, technical excellence, and efficient project delivery.
Disclosure to Pakistan Stock Exchange
In a disclosure with the Pakistan Stock Exchange on June 4, PPL stated: “This is further to our letter dated 9th April 2025 regarding execution of Amendment No. 1 to the Operating Agreement dated 15 November 2004 for Barytes Project with the government of Balochistan (GoB), under a joint venture arrangement for the Baryte, Lead, and Zinc (BLZ) Project between the Parties.” The company added, “We are now pleased to announce that the company has reached another important milestone in its journey of developing Pakistan’s mineral resources by commencing the execution phase of the BLZ Project with signing of a Project Management Consultancy contract with M/s. DMT, Germany. This landmark achievement marks a major step in the development of one of Pakistan’s most significant large-scale open-pit mining projects.”
Economic Impact and National Significance
The BLZ Project is expected to become a key driver of economic growth in the region. At the national level, it will strengthen Pakistan’s mining sector by increasing the production and export of barite, lead, and zinc, contributing to Pakistan’s mineral exports and the sustainable development of the country’s mineral resources. PPL described the BLZ Project as one of Pakistan’s most significant large-scale open-pit mining ventures, which is expected to contribute significantly towards mineral exports and development of the country’s mineral resources.
Compliance with Regulatory Requirements
The foregoing information was submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations, for dissemination amongst members.
