Pioneer Cement has signed an agreement with CITIC Heavy Industries, China to purchase a Waste Heat Recovery (WHR) Plant of power production capacity of 12MW.
According to the company notice sent to the Karachi Stock Exchange (KSE) on Wednesday, the total estimated cost of the plant is Rs1.5 billion.
The company is listed on all the three stock exchanges in Pakistan. Similar to the growth in the cement sector, the company has shown strong growth in recent years.
The company’s plant is located at Chenki, District Khusshab, in the heart of Punjab Province, 250 km away from Lahore.
Pioneer Cement Limited (PCL) is engaged in manufacturing and sale of cement.
The company’s products include Ordinary Portland Cement and Sulphate Resistant Cement.
Published in The Express Tribune, July 2nd, 2015.
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