Pakistan’s Maple Leaf Cement (MLCF) is investing PKR800-900m (US$2.77-3.12m) in a new solar power plant. The plant is expected to have a production capacity of 7.5MW. The company has also announced plans to diversify into the health business with the construction of a hospital. According to the company, the margins would be better than those seen in the cement business. The hospital project is expected to take three years to complete and represents an investment of PKR30bn.
Although local cement demand in Pakistan is forecast to increase by 3-5 per cent in FY24, according to Topline Securities, cement production capacity in the country is predicted to expand by 3Mta with the arrival of projects by Fauji Cement and Attock Cement, putting utilisation rates around the 57 per cent mark in FY24.
