Cement sector attracted $41.4 million foreign investment during July-August this year, depicting a surge of 780 percent against $4 4.7 million of same period of 2006-07, industry sources told business recorder on Friday.
Cement industry is rapidly growing due to huge local and international orders, as presently South East Asia region, Gulf counties and India are facing huge shortage of cement due to tremendous development work.
On the other hand Pakistani cement sector is main beneficiary of the regional cement shortage, which is filling the shortage gap by exporting cement to these countries, industry sources said.
They said that improved infrastructure, cheap labour and easy availability of raw material for cement making are some chief reasons behind this increasing foreign investment.
According to SBP statistics, foreign investment in cement sector got a raise of $36.7 million during July-August this year, as compared to same period of last year. External demands for cement from Gulf countries is growing. This has attracted foreign investors in the cement sector.