Lucky Cement ventures into Africa
Lucky Cement Ltd., Pakistan’s biggest producer, plans to start its first overseas factory in Africa by 2011 to take advantage of a construction boom according to reports by Bloomberg.
“The African market is where the future growth for Pakistan lies,” Chief Executive Officer Muhammad Ali Tabba said yesterday in an interview in Karachi. “Demand is growing and there are not many plants in the region.” He declined to give investment, capacity or location details of the planned factory.
Lucky, which exports to South Africa, aims to use the African factory to export to Europe, Tabba said, without elaborating.
Published under Cement News
