May 18, 2023 (MLN): Lucky Cement Limited (PSX: LUCK) and Al-Shumookh group, Iraq, Najmat-Al-Samawah (NAS) have resolved to enhance their clinker production capacity by adding a new line of 1.82 million tons per annum (MTPA) in Iraq, the company’s filing on PSX revealed today.

This development is primarily attributed to the uptick in construction projects and to secure supply of clinker for the Joint Venture (JV) cement grinding facility in Basra, Iraq.

This capacity expansion will significantly enhance the overall efficiencies of business operations as it will play a crucial role in achieving self-reliance in terms of clinker availability within Iraq.

For the said expansion, NAS has entered into an Engineering & Procurement Contract.

The construction activity on the project is expected to commence within Q1 FY24 and is expected to be completed in 18 months.

With this addition, LUCK's total domestic and international capacities will reach 21.48 MTPA.

Subsequent to the above addition, the total domestic and international capacities of Lucky Cement Limited will be as follows:

This strategic capacity expansion aligns with Lucky Cement's core value of entrepreneurship, as the company seeks to diversify its portfolio of products and businesses.

In addition to cement operations, Lucky Cement has a well-diversified business portfolio encompassing automobiles, chemicals & agri sciences, mobile phone assembling, and energy, including captive power plants.

This diversification not only enhances the quality of earnings but also delivers sustainable value to its shareholders.

Lucky Cement Limited remains committed to providing superior products, driving economic growth, and meeting the evolving needs of its customers and partners.

The expansion of clinker production capacity in Iraq further reinforces Lucky Cement's position as a trusted and reliable partner in the cement industry.

Copyright Mettis Link News

Posted on: 2023-05-18T09:58:10+05:00