February 19, 2021 (MLN): As a result of an uptick in construction activity and significant spending on infrastructure, Fauji Cement Company Limited (FCCL) has decided to invest in additional cement capacity.
Accordingly, the Board of Directors of FCCL, in its meeting held on Friday, 19th February 2021, has approved subject to all regulatory approvals setting up of Greenfield Cement Manufacturing Plant of 2.05 Million Tons per annum at Dera Ghazi Khan. The equity portion of the expansion will be funded through Internal Cash Generation.
The total project cost will be announced after the conclusion of negotiation with the suppliers and contractors, the company in a notification to PSX said.
The construction work on the project is expected to commence within the current financial year and is expected to have a construction period of about 2.5 years.
Currently, the Company is targeting financial closed by 31st March 2021, the notice revealed.
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