Maple Leaf Cement
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Maple Leaf Cement is a Pakistani
cement A cement is a binder, a chemical substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is seldom used on its own, but rather to bind sand and gravel ( aggregate) together. Cement mi ...
manufacturer based in
Lahore Lahore ( ; ; ) is the capital and largest city of the Administrative units of Pakistan, Pakistani province of Punjab, Pakistan, Punjab. It is the List of cities in Pakistan by population, second-largest city in Pakistan, after Karachi, and ...
. It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, Bestway Cement, Fauji Cement, and
DG Cement DG Cement is a Pakistani building materials company based in Lahore. It is part of Nishat Group. DG Cement operates three plants located in Khairpur, Chakwal, Dera Ghazi Khan, and Hub, Balochistan. History DG Cement was established in 1986 b ...
.


History

Maple Leaf Cement was founded in 1956 by the West Pakistan Industrial Development Corporation in a collaboration with the
Government of Canada The Government of Canada (), formally His Majesty's Government (), is the body responsible for the federation, federal administration of Canada. The term ''Government of Canada'' refers specifically to the executive, which includes Minister of t ...
. The initial production capacity was 120,000 tons per annum (tpa) of ordinary Portland cement, which increased by an additional 180,000 tpa in 1960. In 1967, White Cement Industries Limited was founded at the same location which was the first white cement manufacturing plant in Pakistan. Initially, it had a capacity of 15,000 tpa which was later expanded to 30,000 tpa. In 1974, under the West Pakistan Industrial Development Corporation Ordinance of 1974, Maple Leaf Cement and White Cement Industries were merged into the State Cement Corporation of Pakistan, a holding company established by the
Government of Pakistan The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, con ...
to manage nationalized cement companies. In 1983, Pak Cement Company Limited was established at the same site with a clinker production capacity of 180,000 tons under a technical and economic assistance program with National Complete Plant Export Corporation of China. In January 1992, Maple Leaf Cement was acquired for Rs 486 million by
Nishat Mills Nishat Mills Limited ( ) is a Pakistani textile company based in Lahore. It produces yarn, linen, and other products made from raw cotton and synthetic fibers. It is one of the largest textile companies of Pakistan. History Nishat Mills Limite ...
under the privatization scheme of the
Government of Pakistan The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, con ...
. Later, it was transferred to
Saigol Group The Saigol Group ( ) is a group of companies headquartered in Lahore. It was founded by Ameen Saigol in the 1930s with a small shop that eventually developed into the Kohinoor Rubber Works. Ameen Saigol had four sons: Yousaf, Sayeed, Gull and Ba ...
in a swap scheme in which
Nishat Group Nishat Group ( ) is a group of companies headquartered in Lahore, Pakistan. It was founded by in 1951. Mian Muhammad Mansha is the current chairman of the group. At least eleven of the Nishat Group's subsidiaries are listed on the Pakistan ...
acquired
DG Cement DG Cement is a Pakistani building materials company based in Lahore. It is part of Nishat Group. DG Cement operates three plants located in Khairpur, Chakwal, Dera Ghazi Khan, and Hub, Balochistan. History DG Cement was established in 1986 b ...
from Saigol Group. Saigol family also acquired Pak Cement and White Cement Industries during the privatization scheme which were merged into Maple Leaf Cement Factory Limited on July 1, 1992. In April 1994, Maple Leaf Cement began a project to expand its cement production capacity of annual grey
portland cement Portland cement is the most common type of cement in general use around the world as a basic ingredient of concrete, mortar (masonry), mortar, stucco, and non-specialty grout. It was developed from other types of hydraulic lime in England in th ...
from 0.6 million tons to 1.6 million tons. The project had a total cost of US$160.8 million. The
International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...
(IFC) contributed US$45.2 million in financing to the project, which was part of a larger US$160 million investment program. The financing provided by the IFC consisted of a US$5.2 million equity investment, a US$30 million loan for IFC's own account, and an additional US$10 million loan. The remaining financing was raised by listing the company on the
Karachi Stock Exchange The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE), is a stock exchange based in Karachi, Pakistan. PSX was classified by MSCI as a Frontier markets, frontier market on 8 September 2021. Pakistan Stock Exchange was fou ...
on August 17, 1994. The financing was used to acquire a new cement plant from
FLSmidth FLSmidth & Co. A/S is a Danish multinational technology company based in Copenhagen, Denmark. With almost 11,000 employees worldwide, it provides the global mining and cement industries with equipment and services. For the mining industry, the co ...
. The plant became operational in April 1998. In 2004, Maple Leaf Cement initiated a process conversion project, transitioning a wet process plant with a clinker capacity of 600 tons per day (tpd) for grey cement to a dry process plant with a clinker capacity of 500 tpd for white cement. The project was completed, and commercial production commenced on April 1, 2006. Following the conversion, white cement production capacity increased from 30,000 tpa to 180,000 tpa. The total cost of the project was PKR 3,280 million. In November 2022, Maple Leaf Cement commissioned a new grey clinker production line at its brownfield site in Iskanderabad,
Punjab, Pakistan Punjab (, ) is a Administrative units of Pakistan, province of Pakistan. With a population of over 127 million, it is the Demographics of Pakistan, most populous province in Pakistan and the List of first-level administrative divisions by popu ...
. The production line was supplied by Chengdu Design & Research Institute of China and increased the site's production capacity by 7000 tons per day. The total cost of the project was PKR 20 billion (approximately US$90.2 million at the time). The project was financed with a debt-to-equity ratio of 70:30, with funding obtained through the Long Term Financing Facility (LTFF) and Temporary Economic Refinance Facility (TERF) offered by the
State Bank of Pakistan The State Bank of Pakistan (SBP) is the central bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was nationalised and the scope ...
.


References

{{DEFAULTSORT:Maple Leaf Cement Saigol Group Manufacturing companies established in 1956 1994 initial public offerings Canada–Pakistan relations Cement companies of Pakistan Companies based in Lahore Companies listed on the Pakistan Stock Exchange Companies in the KSE 100 Index Pakistani brands Pakistani companies established in 1956 Formerly government-owned companies of Pakistan