Attock Cement to set up Iraq unit

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Iraq/Pakistan: The Economic Coordination Committee (ECC) has approved Attock Cement Pakistan Limited's (ACPL) request to establish a cement production unit in Iraq.

The ECC meeting, chaired by finance minister Ishaq Dar, approved the proposal to allow Attock Cement Pakistan Limited (ACPL) to remit US$24m for the establishment of a grinding plant in Basra, starting from March 2015 onwards. The proposed investment venture is expected to bring foreign exchange through dividends repatriation and growth in clinker exports. As ACPL intends to hire 50% of its labour force from outside Iraq, the venture is expected to create employment opportunities for Pakistanis.

Last modified on 18 March 2015

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