Maple Leaf Cement updates about expansion

Maple Leaf Cement Factory Ltd has advised the Pakistan Stock Exchange (PSX) about the company's progress on the implementation of the additional of 7300tpd clinker line at its Iskanderabad plant. The project will raise the plant's total grey cement capacity to 18,000tpd at a cost of INR25bn.

The project cost is being financed approximately 17 per cent by way of right issue, 51 per cent through bank loans and the rest from internal cash generation.

Letters of Credit (LCs) for supply and setting up of engineering and equipment of complete cement plant from FLSmidth amount to EUR79.6m. By 30 June 2018, 100 shipments (approximately 89 per cent) have been received at the site, representing a contract value of EUR65.7m.
 
The contract for the civil construction and mechanical erection work has been awarded to Descon Engineering Ltd. The construction work at site is in full swing and approximately 60 per cent of civil work has been completed. Further, plant erection work has also started and 14 per cent work had also been completed by 30 June 2018.

Commercial production from new line of 7300tpd is expected to commence within fourth quarter of current financial year.