Attock Cement Company Limited (ACCL) announced that they added a new production line of 1.2 million tons per annum that commenced production from Tuesday, according to a company notice sent to the bourse.
The new facility is located at the company’s old production site in Hub, an industrial area just outside Karachi and the only major industrial town in Balochistan.
Attock Cement’s installed capacity was 1.79 million tons per annum in December 2017, which means that its total capacity has now gone up to around 3 million tons with the new addition.
Earlier, the company also planned to install a 15MW waste heat recovery power plant that would help in curtailing the power costs for the new line. The company could not expand its operations due to violence in and around Hub.
Attock Cement’s script is currently trading at Rs. 187, with a gain of +Rs. 3.65 at the PSX.
The cement industry is enjoying one of the best periods in its history. As per APCMA, cement dispatches for the month of Dec-2017 depicted 5% YoY growth to clock in at 3.7 million tons – higher than suggested by provisional numbers. In spite of winter season, domestic sales of the industry registered a healthy growth of 7% YoY to 3.4 million tons (North/South: +7%/+5% YoY).
The growth in overall dispatches was triggered by the robust local demand coming from ongoing development projects and housing schemes that led the local dispatches
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.
The Company also has the facility of supplying cement in bulk and also produces low alkali cement for some of its market. Its products include Ordinary Portland Cement (OPC), which is a product under the Falcon Brand used in all types of general construction. OPC can be used in concretes, mortars, grouts and premix concrete.
It also offers Sulfate Resistant Cement (SRC), which is sold under Falcon Brand and is used in sea and coastal areas and provides resistance to chemical attack from sulfates and dissolved salts present in sea and saline waters.