Displaying items by tag: Habib Bank

Pakistan: Fauji Cement has taken out a loan of US$212m from a consortium lead by Habib Bank Limited. The Business Recorder newspaper has reported that the funding will go towards cement plant expansion projects with a total cost of US$339m. Fauji Cement plans to expand its plant in Dera Ghazi Khan, Punjab, while its subsidiary Askari Cement plans to expand its plant in Nizampur, Khyber Pakhtunkhwa. The company says that the projects will together increase its installed cement production capacity to 10Mt/yr.

Democratic Republic of Congo: Pakistan’s Lucky Cement is set to open its US$270m Nyumba Ya Akiba cement plant in Bas-Congo later in October 2016. The 1.2Mt/yr plant will be operated with Groupe Rawji, a local company, under the name CIMKO. It is financed by the African Development Bank, the International Finance Corporation, EKF and by Habib Bank among others, according to Bloomberg.

“We will take care of everything that can hinder your production, unfair competition, fraudulent imports, we will take care of that,” said Prime Minister Matata Ponyo Mapon to CIMKO executives in a show of support for the project at a recent meeting.