Pakistan’s Popular Group of Industries has reportedly purchased Dadabhoy Cement Industries Ltd. The company’s plant in Dadu District, Sindh Province, has been closed for several years following the alleged default of local financial institutions. Although the sale is yet to be made public, local news reports suggest that Popular Group has started refurbishing the plant.

Dadabhoy Cement had previously announced that it was in negotiation with potential buyers in its 2017 annual report. Following a series of expansions, the company’s plant currently has a capacity of 2800tpd.