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Sat, 25 October 2014 08:06:48
Sri Lanka factory planned by Pakistan cement firm: report
24 Nov, 2012 06:16:06
Nov 24, 2012 (LBO) - Pakistan-based Lucky Cement Ltd, is planning a 500,000 metric tonnes a year grinding plant in Sri Lanka as part of its overseas expansion drive, a media report said.
Bloomberg newswires quoted chief executive Muhammad Ali Tabba as saying that the firm has sought state land to build a 20 million US dollar factory.

Lucky Cement is planning to double production to 15 million tonnes over seven years, with the help of overseas expandion, the report said.

The firm is planning to have a 1.2 million tonne plant in operation in Congo by 2012. A plant is also expected to be up in Iraq next year.

Lucky group has bought a 75.8 percent stake in ICI Pakistan Ltd, from Akzo Nobel for 152.5 million US dollars in July.

Pakistan's Tatta Cement has already been given a concession to build a grinding plant in Sri Lanka's Hambantota port.

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