Karachi, November 27, 2012 (PPI-OT): Lucky Cement has approached the Indian government about setting up a cement production plant in Indian Punjab.
According to Alfalah Securities Limited, the project is expected to be set up in roughly 12‐18 months. Around 3 months ago, India had lifted a ban on foreign direct investment from Pakistan in order to strengthen economic ties. Lucky has been aggressively pursuing to expand its business in the international market for which it has initiated projects in Iraq and Congo. It is also seeking land and license from the Sri Lankan government to set up plant in Sri Lanka. The management of Lucky is making all out efforts to bring in growth in the company taking the business to international markets which would also be reflected in higher profitability for the company in the later years.