Attock Cement plans new grinding plant, Iraq

Attock Cement plans new grinding plant, Iraq
28 May 2013

Attock Cement plans to invest US$25m in a new grinding plant in the city of Basra, Iraq, making it the third Pakistan-based cement manufacturer to venture into the Middle East and Africa region.

In a filing to the Pakistan Stock Exchange, Attock Cement said: "The board of directors of the company has approved the investment for putting up a Cement Grinding Unit in Basra, Iraq, subject to regulatory and other approval and compliance with all applicable laws, rules and regulations.”  The project is currently in the initial stages, although local press have speculated that work could be carried out on a fast-track basis in the coming years once regulatory authority has been given.

Middle East and sub-Saharan Africa countries are potential markets for Pakistan cement companies at a time when exports to neighbouring countries such as India and Afghanistan have been subdued. 

With considerable cement demand growth potential, the government of Iraq is keen to invite new investors into the country and Pakistan’s leading cement producer, Lucky Cement, is constructing a grinding plant in the country through a joint venture. Lucky Cement is also investing in a new grinding facility in Congo while fellow Pakistan producer DG Khan is expanding operations by acquiring a controlling stake in upcoming Mozambique cement producer GS Cimento.

Published under Cement News