Pakistan

Punjab govt approves establishment of five cement plants worth 200 billion

Punjab cement plants

Five cement plants are going to be established in Punjab with a potential investment of around Rs 200 billion after the approval of the Punjab Cabinet.

On Tuesday, while addressing the press conference, Special Assistant to Punjab Chief Minister on Information Dr. Firdous Ashiq Awan said that the provincial cabinet has given approval for an investment of Rs 200 billion in these cement plants.

This news got confirmed when Chief Minister (CM) Usman Buzdar posted on his official Twitter account regarding the development.

He said there were only twelve cement plants in the province till recently but the Cabinet, with persistent efforts of his team, approved no-objection certificates (NOCs) for five more plants.

Read more: Cement Sector Records Highest Ever Monthly Despatches in October

“These new cement plants will bring a collective investment of Rs150 billion to Rs200 billion to the province in addition to creating employment opportunities for hundreds of thousands of people,” the Punjab CM said.

Moreover, the approval formed one of the 28-point agenda of the cabinet meeting. The cabinet was informed that five departments had issued No-Objection Certificate (NOC) within 90 days of application and action had also been started on 11 other applications. Chief Minister Usman Buzdar chaired the meeting.

The minister congratulated cement companies on recent investments. “We welcome the investment of Bestway Cement Group in the cement sector in Attock, Khushab and Mianwali and will provide all possible support to the group,” he said.

He added, “As soon as our group gets NOC, it will make new investments of billions of rupees in the cement industry.”

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