Lucky Cement Limited, one of Pakistan’s largest business conglomerates, announced on Monday that its joint venture in the Democratic Republic of Congo (DRC), Nyumba Ya Akiba (NYA), had approved a major expansion to meet the African nation’s growing construction-driven demand.
In a filing submitted to the Pakistan Stock Exchange (PSX), LUCK said NYA would expand its existing cement production capacity from 1.31 million tons per annum (MTPA) to 2.91 MTPA. The upgrade includes the installation of a new, fully integrated 1.6 MTPA production line.
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“Keeping pace with the growing demand for cement in the Democratic Republic of Congo (DRC)-driven by continued economic activity and an uptick in construction projects—the joint venture between Lucky Cement Limited and the Rawji Group, through its company Nyumba Ya Akiba (NYA), has resolved to enhance its cement production capacity,” read the notice.
“This capacity enhancement will significantly improve the overall efficiency of NYA’s operations and play a pivotal role in meeting the rising cement demand in the DRC. It will also help NYA strengthen and maintain its market leadership in view of the anticipated increase in demand.”
The cement maker shared that following the expansion, Lucky Cement’s total domestic and international cement capacity would reach 23.15 MTPA across Pakistan, Iraq, and the DRC.
Lucky Cement Limited said it remained dedicated to expanding its portfolio of products and businesses.
“The company maintains a well-diversified business portfolio that, in addition to its local and international cement operations, includes automobiles, chemicals and agricultural sciences, mobile phone assembly, energy, copper and gold mining,” it added.
Lucky Cement Limited is the only cement manufacturer to have its own storage and loading terminal at Karachi port.
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