Fauji Cement Company Limited, a subsidiary of the Fauji Group, on 19th February 2021, announced setting up of a Greenfield Plant for manufacturing of 2.05 Million Ton of Cement per year at Dera Ghazi Khan. The Company is targeting financial close by 315 March 2021. The construction work of the project is expected to commence within the current financial year with targeted completion in about 2.5 years. With this expansion, the total annual capacity of Fauji Cement will increase to a sizeable 5.65 Million tons of cement production per year.
But that is not all!
Encouraged by the recent boom in the construction sector, brought about by economic revival, government policies and incentives for the construction Industries, focus on infrastructure project and CPEC, the Fauji Group believes that it is the opportune time to be fully invested.
Accordingly, on 19th February 2021, Askari Cement Limited, a wholly owned subsidiary of Fauji Group, also announced a Brownfield Plant for manufacturing of 2.05 Million tons of Cement per year at its Nizampur Site, District Nowshera.
The financial close has already been achieved and it is envisaged that the project will be completed within 18 months. With this incremental capacity, the total capacity of Askari Cement will increase to 4.85 Million Tons per year and will be well placed to meet the demand for mega hydro power projects situated in the North. Additionally, this increased demand will allow Askari Cement to increase its footprint in the KPK Province and Rawalpindi zone retail market. Both these projects will enhance employment opportunities and serve as a catalyst for increased economic activity in the areas that they will operate and have a positive impact on the economy in general. As good corporate citizens,
Fauji Cement and Askari Cement are gearing up to build Pakistan.