Pakistan’s Economic Coordination Committee (ECC) has granted Attock Cement Pakistan Limited (ACPL) permission to establish a cement grinding unit in Iraq. ACPL proposed to remit US$24 million for the establishment of the plant in Basra on account of equity investment beginning this month. The company reportedly plans to hire 50% of its employees from outside Iraq. According to The Express Tribune, the proposed venture is ‘expected to bring foreign exchange through dividends repatriation and growth in clinker exports’.
Pakistan’s Lucky Cement is also investing in a grinding plant in Iraq. The country is making headway with investment in reconstruction and infrastructure, with cement consumption of 21 million t forecast for last year.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/africa-middle-east/16032015/attock-cement-to-build-grinding-plant-in-iraq-521/