LAHORE: The country’s biggest cement manufacturer is set to acquire a mine permit to extract limestone in Punjab.
According to Punjab’s Mines and Minerals Department Secretary Arshad Mehmood, the local administration has approved the deal and now the Lucky Cement will get a limestone quarry for a cement plant in Punjab. Arshad, while talking to Bloomberg, said that an agreement is expected to be signed in the next few days.
The Karachi-based cement maker is set to join producers including Attock Cement Pakistan Ltd and DG Khan Cement Ltd that have announced expansion plans as PM Nawaz Sharif looks to boost infrastructure spending.
“Everything is positive for construction,” Bilal Khan analyst at Karachi-based Global Securities Pakistan Ltd., said by phone. “If growth stays at the same pace, the person who decides to expand today is the winner.”
