Maple Leaf Cement Manufacturing unit Ltd. is planning a capability growth by 7,000 tons at a day (nearly a 3rd of its present capability) to faucet demand because the economic system recovers, Bloomberg reported quoting folks accustomed to the matter.
The proposal of growth is within the closing phases, and the corporate is discussing the plan with banks and equipment suppliers, stated the report.
Prime Minister Imran Khan’s transfer to supply tax amnesty for the development business and investing in constructing houses has led to a development increase and is selling financial revival.
Associated industries are additionally experiencing a increase. As an illustration, demand for native constructing materials merchandise is predicted to rise 17 p.c within the present fiscal 12 months, which is the very best in 5 years, Perception Securities brokerage firm knowledge reveals.
A number of gamers in Pakistan’s cement business are at present increasing their capability. Fortunate Cement Ltd., Kohat Cement Co., Fauji Cement, and D. G. Khan Cement have already began their growth initiatives to cater to rising demand on this sector.
Maple Leaf will use inside funds to finance the growth. It won’t be promoting extra shares, as per the sources.