Lucky Cement reports Pezu expansion on track

Lucky Cement reports Pezu expansion on track
28 October 2022

Lucky Cement Ltd announced that the company’s 3.15Mt brownfield cement expansion at Pezu remains on track to be commissioning by December 2022.

A 34MW solar power project is set to be commissioned at the site in the 2Q22-23. The company has also planned a 25.3MW solar power project it its Karachi plant, where it awaits permission from the State Bank of Pakistan to establish a letter of credit.

Lucky Cement’s subsidiary in Najmat-Al-Samawah, Iraq, has switched to natural gas from furnace oil to fire its kiln, which is expected to improve its profitability going forward.

The company recently announced a buyback of 10m shares, which will be completed at spot prices prevailing between 29 September 2022 and 27 March 2023.

Published under Cement News