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DG Cement
Cement manufacturer in Pakistan From Wikipedia, the free encyclopedia
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DG Cement is a Pakistani building materials company based in Lahore.[2] It is part of Nishat Group.
DG Cement operates three plants located in Khairpur, Chakwal, Dera Ghazi Khan, and Hub, Balochistan.[3][4]
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History
DG Cement was established in 1986 by state-owned company, State Cement Corporation of Pakistan in Dera Ghazi Khan.[5] The plant was supplied by Ube Industries of Japan.[5]
In 1992, DG Cement was acquired for PKR 1,799 million ($73.5 million) by Saigol Group under the privatization scheme of the Government of Pakistan.[6][7] Later, it was transferred to Nishat Group in a swap scheme in which Nishat Group acquired DG Cement and Saigol Group acquired Maple Leaf Cement from Nishat Group.[8][9]
In 1994, DG Cement initiated a $170 million expansion project at its Dera Ghazi Khan plant in Punjab.[10] The project was financed in part by the International Finance Corporation (IFC), which approved a $10 million exposure for the facility in 1995.[10] The project contract was awarded to FLSmidth and was denominated in Danish kroner.[10][11]
In 2004, DG Cement commissioned its second plant in Khairpur, Chakwal at a cost of PKR 9 billion.[12]
In 2015, DG Khan setup its third and one of the largest plant of Pakistan in Hub, Balochistan.[13]
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Plants
Subsidiaries
Nishat Paper Products
Nishat Paper Products was founded in June 2004 as a joint venture between DG Cement and Shuaiba Paper Products of Kuwait to produce paper sacks for cement.[15]
In June 2008, Shuaiba Paper divested its stake. The plant is located in Khairpur, Chakwal and has a capacity to produce 120 million bags annually.[15]
Nishat Dairy
Nishat Dairy Limited was founded in 2011 as a subsidiary of DG Cement. It operates a 165-acre dairy farm located in Sukheke Mandi.[16]
Investments
- Hyundai Nishat Motors (10%)[1]
- MCB Bank (8.63%)[1]
- Nishat Mills (8.61%)[1]
- Nishat Hotels and Properties Limited (8.55%)[1]
- Adamjee Insurance (7.97%)[1]
Shareholding pattern
References
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