DG Khan mulls over PKR10bn Sri Lanka investment

DG Khan mulls over PKR10bn Sri Lanka investment
Published: 24 November 2010

Pakistan’s one of the largest cement producers, DG Khan Cement Ltd (DGKCL) said today it still considering to invest about PKR10bn (US$117.68m) in setting up a 2Mta cement plant in collaboration with the Sri Lanka government, to export cement in South Asia.
 
A DGKCL official told CemNet that the company is waiting for the Sri Lankan government’s letter of interest, which was earlier sought and then canceled due to local elections.

Last year, the Ministry of Industrial Development as called for expressions of interest from local and foreign investors to build a new or rehabilitate Lanka Cement Corporation’s 0.115Mta plant, which had been destroyed during the 1980s civil war.
 
 
Meanwhile, Pakistan’s Board of Investment (BoI) announced that the two countries have identified several areas, including cement, in which they could cooperate on projects in Sri Lanka that would be mutually beneficial. Between July 2009 and June 2010, Pakistan exported cement to Sri Lanka to the value of U$20.50m, compared to US$8.34m the equivalent period last year.