Pak cement maker intends to set up plant in India

Lucky Cement, Pakistan’s largest cement maker and exporter, has evinced interest in setting up a manufacturing plant in India in the first such overture since New Delhi allowed foreign direct investment (FDI) from its western neighbour three months ago. Lucky Cement, which also has manufacturing units in Iraq and Congo, has been exporting the building material to India.

Sources said that currently, Lucky Cement is contemplating having a direct presence in India once it has achieved key understanding of the Indian market and the opportunities it may offer. At present, Lucky Cement is seeking guidance both from the Pakistan and Indian government authorities on the existing FDI policy.

Lucky Cement has annual production capacity of 7.75 million tonne, according to the company’s website, and possesses international quality certifications, including that from the Bureau of Indian Standards. The company is listed on the Karachi, Lahore, Islamabad and London stock exchanges.