Fecto Cement has also shown interest to acquire Dewan Cement Limited (North Plant) and announced to participate in the bidding process for sales of assets of the said plant. The decision has been taken in the meeting of the board of directors of Fecto Cement Limited held on Tuesday.
According to material information sent to Pakistan Stock Exchange, the Company will evaluate the information that will be provided by Next Capital Limited (the Financial Advisor) of Dewan Cement Limited for carrying out due diligence in relation to potential/prospective purchase of assets of North Plant.
The successful culmination of transaction will be subject to including but not limited to finalisation of commercial terms, completion of due diligence, execution of definitive agreement and receipt of regulatory approvals, if any. Replacement of certain equipments like kiln coal dosing equipment and motors of both ID fans have resulted increase in production of clinker from 2,600 metric tons per day to 2,760 metric tons per day. Accordingly cement production also increased from existing 2,730 metric tons to 2,900 metric tons per day.