Lucky Cement to invest Rs. 17.5 billion in Pezu Plant, KPK; $190 million at Samawah, Iraq

Lucky Cement (LUCK) is planning to invest Rs. 17.5 billion at Pezu Plant, KPK Pakistan to expand the total capacity by additional 2.6 million tons per annum. In addition to that, the government has also decided to expand production facility at the Samawah Plant, Iran by investing up to $109 million.

The government has awarded the brownfield cement plant expansion to Lucky Cement plant at KPK, Pakistan.

“The company has decided to increase the cement production capacity at its Pezu Plant by 2.6 million tons per annum. In this regard necessary approvals and NOC have also been secured from the KPK Government”. Furthermore, the company announced that in order to become self-reliant for clinker availability in Iraq, “a greenfield Clinker production facitlity with a capacity of 1.2 million tons per annum is planned to be setup in Samawah, Iraq as a joint venture project with the existing local partner.”

According to the notice, the cost of project at Pezu, Khyber Pakhtunkhwa is estimated to be at PKR 17.5 billion and the company plans to begin commercial production from the last quarter of 2019. And the project cost for the Samawah, Iraq is expected to be at USD 109 million with aims to begin commercial production from the last quarter of 2019.”

Posted on: 2018-04-26T16:14:00+05:00