Attock Cement gets Rs9.7bn credit line
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KARACHI: Attock Cement Pakistan Ltd (ACPL) has recently concluded the financial close of syndicated term finance facility of Rs9.7 billion under the State Bank Of Pakistan’s Temporary Economic Refinance Facility and Long-Term Financing Facility through a consortium of banks led by MCB Bank Ltd, who acted as agent bank on behalf of the other financiers, which includes Allied Bank Ltd and the Bank of Punjab.
This facility will be used to finance the setting up of a new production line of 4,000 tonnes per day capacity of cement with a total investment of $100 million as approved by its board of directors for which the company has already signed a contract with China’s Heifi Cement Research and Design Institute.
ACPL is already in the process of installing a 20-megawatt solar power plant at its existing site under the SBP’s financing scheme of renewable energy at an investment of $11m.
Published in Dawn, March 28th, 2021
