GM Finance and Company Secretary, Faisal Mahmood, of Lucky Cement Ltd (Yunus Brothers Group) informed Pakistan Stock Exchange (PSX) on 18 May that the company has made a 1.82Mta expansion plan with its joint venture partner in Samawah, Iraq, taking the total capacity under its clinker production company Najmah Al Samawah to 3.13Mta.
It will coincide with the increasing cement demands in Iraq. The management expects the plant to be completed in 18 months, as per PSX notice, after the commencement of construction in 1QFY23-24.
This is expected to take the total cement capacity of the group (including both local and foreign operations) to 21.48Mta, whereby local capacity is set at 15Mta, capacity in DR Congo is 1.31Mta, while capacity in Basra, Iraq, is 1.74Mta. At the same time, Samawah will have a grinding capacity of 3.13Mta.
According to AHL Research, this project will allow the company to secure a clinker supply for its cement grinding facility in Basra, Iraq. The company has a 50 per cent stake in this JV.
