Pakistan based Lucky Cement Limited is planning 500,000 tonnes a year grinding plant in Sri Lanka as part of its overseas expansion drive.
Mr Muhammad Ali Tabba CEO of Lucky Cement said that the firm has sought state land to build USD 20 million factory.
Lucky Cement is planning to double production to 15 million tonnes over 7 years with the help of overseas expandion. The firm is planning to have 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% stake in ICI Pakistan Limited from Akzo Nobel for USD 152.5 million in July. Pakistan's Tatta Cement has already been given a concession to build a grinding plant in Sri Lanka's Hambantota port.
Source:
http://www.steelguru.com/middle_east_news/Sri_Lanka_factory_planned_by_Pakistan_cement_firm_Report/294591.html
