Lucky Cement to construct Iraq grinding plant
Pakistan’s Lucky Cement is to construct a 0.87Mt grinding plant in Iraq through a joint venture, according to reports by the Associated Press of Pakistan.
The company is to invest US$15m in the cement plant which is estimated to cost US$30m. The technical and financial evaluation of the proposed project has already been carried out by the team of experts.
Similarly, the board also decided to invest in the equity of its newly incorporated associated company Yunus Energy Ltd, a 50MW wind farm near Jhimpir, Thatta subject to all regulatory and statutory approvals.
The total cost of this green project is estimated at US$143m, of which Lucky Cement will contribute US$4m as 14 per cent equity share.