Pakistani Firm Sells Stake in Iraqi Cement Maker

Pakistan’s Attock Cement Pakistan Limited will reportedly sell its investment in its cement grinding facility in Iraq.

Pro Pakistan reports that its 60-percent share in Saqr Al-Keetan for Cement Production Company Limited (SAKCPCL), located at Khor Al-Zubair, Basra, will be sold for a US$23.4 million, to be paid in three tranches.

The proposed sale is expected to generate a capital gain of approximately US$ 5.343 million.

The mill has a capacity of 0.9 million tons.

According to previous information from Business Recorder, the investment is a joint venture with the Iraq-based Al Geetan Commercial Agencies.

More here.

(Source: Pro Pakistan)