By John Lee.
Pakistan’s Economic Coordination Committee (ECC) has approved a proposal to allow Attock Cement Pakistan Limited (ACPL) to transfer $24 million (29 trillion Iraqi dinars) to Iraq for the construction of a cement grinding unit in Basra.
The investment will starting this month, with the company intending to hire 50 percent of its labour force from outside Iraq, create employment opportunities for Pakistanis.
ACPL is a public limited company, listed on the Karachi Stock Exchange, and is part of the Pharaon Group.
(Source: Pakistan Ministry of Finance)
(Cement image via Shutterstock)