Pakistan: Lucky Cement considers buying Hattar plant and investing in Iraq

Lucky Cement has announced that it has begun the due diligence process for the purchase of Dewan Cement’s 1.134Mta Hattar plant and that separately it would look to expand its grinding plant in Basra, Iraq, according to Pakistan’s The News.

Lucky’s corporate strategy calls for an expansion of its business into northern Pakistan, for which the Hattar plant – located around 25km from Islamabad – is well suited.

The Basra plant, which Lucky holds as a joint-venture with an Iraqi partner, is slated to expand from 0.871Mta to 1.742Mta, financed by the proceeds of the operation.

Lucky has also announced a deal with Kia Motors which would see the company move into the automotive business.