Displaying items by tag: Pharaon Investment Group
Pharaon Investment looking to offload Attock stake
30 December 2024Pakistan: Lebanon's Pharaon Investment Group Limited is reportedly considering the sale of its 84% stake in Attock Cement Pakistan, according to Pakistan Today. The holding company recently announced that it was re-evaluating its long-term strategic options in Pakistan, which also include Attock Petroleum, Attock Oil Company and Attock Refinery.
Attock Cement has been 'battered' by low demand in the Pakistani cement industry in recent years, following a period of expansion in the early 2010s. It produced 0.31Mt of cement in the first quarter of the 2025 financial year (to 30 September 2024), an 11% year-on-year fall from 0.35Mt a year earlier.
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