Maple Leaf Cement Factory Limited will start the production of 7,300 tons of cement per day from its new Rs25 billi
Maple Leaf Cement Factory Limited will start the production of 7,300 tons of cement per day from its new Rs25 billion plant by next year, the company revealed in its filing to Pakistan Stock Exchange (PSX).
The addition will bring the company’s total grey cement capacity up to 18,000 tons per day. “Project cost is being financed approximately 17 percent by way of right issue, 51pc through bank loans and the rest from internal cash generation,” stated the company.
The statement comes after the company set up an additional dry process production line of 7,300 tons/day grey clinker production, a brown field expansion at the company’s existing site in Iskandarabad to enhance total grey cement capacity up to 18,000 tons/day.
“Commercial production from new line of 7,300 tons per day is expected to commence within 4th quarter of the current financial year,” Maple Leaf Cement said in a statement to PSX.
Revealing about the plant and machinery, Maple Leaf stated “Letter of credit for supply and setting up of engineering and equipment of complete cement plant from FL Smith A/S Denmark, amounting to Euro 79.6 million, approximately Rs11 billion, have been established through National Bank of Pakistan.”
“Till the quarter ended June 30, 2018, total 100 shipments of approximately 89pc have been received amounting to Euro 65.7 million.” The shipments will keep coming through the tenor of letter of credit, the company added.