November 4, 2019 (MLN): Dandot Cement Company Limited (DNCC) via notification to PSX, has informed that the company has been facing serious challenges concerning viable operations, adequate liquidity and has incurred huge financial losses for the last many years.
Further, the current operations of the existing plant are unable to meet the prescribed environmental standards as stipulated by the law.
Hence, a large amount of fresh capital needs to be invested for a comprehensive Balancing, Modernization and Replacement (BMR) of the project to achieve environmental standards, energy efficiency with cost-effectiveness and convert the process into automated to make this company financially viable and legally compliant.
Based on the above facts and undeniable circumstances, the Board of Directors of the company unanimously decided through its resolution dated October 30th, 2019 to “Close Down” the factory completely while complying with all relevant laws in this respect.
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