Lucky considers increasing northern exposure

Lucky Cement plans to build a new cement plant in the north region of the country to meet growing demand, a senior company official said on Friday.

"Yes, we have planned to set up a plant in the north [of the country], News International quoted the company's CEO Muhammad Ali Tabba, as saying. "Our next board of directors meeting is scheduled at end of October and we would take up the plan there for approval," he added.

Lucky Cement would release all relevant financial and other information of the planned project and the company's future strategy through bourse filing, Mr Tabba said.

The cement producer already operates one production plant at Pezu, Karachi in southeast Pakistan, and the other at Khyber Pakhtunkhwa, located in the northwestern region of the country.