Lucky receives power plant financing

Lucky Cement has received financing approval for its power plant at Deh Ghangiaro, Bin Qasim, Karachi.

Lucky Electrical Power Co Ltd, a subsidiary of Lucky Cement, applied for the finance to build a 660MW supercritical coal-based power project to supply power to the national grid. The project cost is estimated at US$885m, financed through a debt-to-equity ratio of 75:25. Commercial operation is scheduled to start in March 20121.