Flying Cement Co awarded long-term mining lease in Punjab

Flying Cement Co Ltd has informed Pakistan Stock Exchange (PSX) recently that the Directorate General of Mines & Minerals (Punjab) has granted the company a long-term mining lease for limestone over an additional area of 714ha (1765 acres) of land situated near to factory site, Dhok Meharwal in District Khushab, Punjab, Pakistan. 

This will add remarkable value to the company’s vision in the implementation plan of achieving constant future growth.

Accordingly, the company would be able to implement its business growth plan by further expanding its operation shortly, which will result in better profitability and add significant value to the shareholders’ equity. 

The last quarter report (October-December 2021) adds that Flying Cement is fully committed to completing its Line 2 expansion project. It is estimated that the company will achieve its commercial operation date during September 2022, after which its cement capacity will be 3.51Mta. This will significantly rise in profitability, and financial ratios are expected to maximise shareholder return.