KARACHI: A bourse notification filed Tuesday by Attock Cement Company Limited revealed its new production line capable of producing 1.2 million tons per annum of cement has started operations.
The new production line is situated at its old production site in Hub, Balochistan. Attock Cement Pakistan Limited is a member company of Pharaon Commercial Investment Group, previously known as Attock Oil Group, the largest foreign investment group in Pakistan.
Attock Cement’s installed capacity as of December 2017 was 1.79 million tons per annum and now rises to 2.79 million tons per annum because of its new production line having come online.
It followed the path of its competitors, Cherat Cement and DG Khan Cement which made investments to enhance their production capacity after the announcement of China-Pakistan Economic Corridor (CPEC) in early-2015.
According to All Pakistan Cement Manufacturers Association (APCMA), the country’s total cement production capacity stood at 46.94 million tons per annum as of December 2017.
Last year, a Bloomberg report said China-Pakistan Economic Corridor led to a major resurgence and boom for the Pakistani cement industry. The report cited, it was expected that Pakistan’s cement production capacity will rise from 56m tons to 70m tons within a span of five years.
