Last checked at 30 Apr 2018 07:00
LCK/CS/2017-18/ April 26, 2018
The General Manager Pakistan Stock Exchange Limited Karachi | The Deputy Chief Securities & Exchange Commission of Pakistan Islamabad | The London Stock Exchange 10 Paternoster Square, London |
Dear Sir(s)
MATERIAL INFORMATION
In accordance with Section 96 and 131 of the Securities Act, 2015 and Clause 5.19.13(c) of the Rule Book of the Pakistan Stock Exchange Limited, we hereby would like to convey the following information:
"Brownfield cement plant expansion in KPK Province of Pakistan - 2.6 million tons per annum
In view of the continued delay in expansion plans for North, the Company has decided to increase the cement production capacity at its Pezu Plant by 2.6 million tons per annum. In this regard, necessary approvals and NOC have also been secured from the KPK Government.
The project cost is estimated at PKR 17.5 billion based on current exchange rates and target for commercial production is last quarter of calendar year 2019.
Greenfield clinker production facility in Samawah, Iraq - 1.2 million tons per annum
In order to become self-reliant for clinker availability in Iraq, a greenfield Clinker production facility with a capacity of 1.2 million tons per annum is planned to be setup in Samawah, Iraq as a joint venture project with the existing local partner.
The project cost is estimated at USD 109 million and is subject to all regulatory / statutory approvals required under the law. The project aims to start commercial production from the last quarter of calendar year 2019".
You may please inform members of the Exchange accordingly.
Yours truly,
For: LUCKY CEMENT LIMITED
IRFAN CHAWALA
Director Finance/CFO
DISCLOSURE FORM
IN TERMS OF SECTION 96 AND 131 OF THE SECURITIES ACT, 2015
Name of Company: | LUCKY CEMENT LIMITED |
Date of Report |
April 26, 2018 |
Name of Company as specified In the Memorandum |
Lucky Cement Limited |
Company Registered Office |
Pezu, District Lakki Marwat, Khyber Pakhtunkhwa |
Contact information |
Tel: 111 786 555 Ext. 2261 |
Disclosure of material information by listed company in terms of section 96
"Brownfield cement plant expansion in KPK Province of Pakistan - 2.6 million tons per annum
In view of the continued delay in expansion plans for North, the Company has decided to increase the cement production capacity at its Pezu Plant by 2.6 million tons per annum. In this regard, necessary approvals and NOC have also been secured from the KPK Government.
The project cost is estimated at PKR 17.5 billion based on current exchange rates and target for commercial production is last quarter of calendar year 2019.
Greenfield clinker production facility in Samawah, Iraq - 1.2 million tons per annum
In order to become self-reliant for clinker availability in Iraq, a greenfield clinker production facility with a capacity of 1.2 million tons per annum is planned to be setup in Samawah, Iraq as a joint venture project with the existing local partner.
The project cost is estimated at USD 109 million and is subject to all regulatory / statutory approvals required under the law. The project aims to start commercial production from the last quarter of calendar year 2019".
SIGNATURE
For and on behalf of
LUCKY CEMENT LIMITED
IRFAN CHAWALA
Director Finance/CFO