Lucky Cement Limited issued on Friday a clarification to the Pakistan Stock Exchange (PSX) to address what it called rumours arising from a video circulating on social media.
The company reported “negligible damage” to some electrical wiring at its cement plant in Iraq, adding the plant was full operational despite the incident.
“In accordance with Regulation 5.6.2 of the PSX Regulations read with Section 96 of the Securities Act, 2015, the following disclosure is being made to address the rumors arising from a video circulating on social media since yesterday and a clarification purported to be issued by the Company:
“In this regard, it is hereby informed that the cement plant, of the Company, under joint venture arrangement at Samawah, Iraq remains fully operational and no significant or material damage has been caused to the plant,” the company notice read.
Lucky Cement further said the incident occurred due to an unidentified flying object colliding with the top part of the pre-heater installed at Samawah, Iraq which caused “negligible damage to some electrical wiring”.
Last month, Lucky Cement announced its new clinker line had started operations at Najmat Al-Samawah (NAS), located in Samawah.
In May, 2023, Lucky and the Al-Shumookh group of Iraq resolved to enhance their clinker production capacity by adding a new line of 1.82 million tons per annum (MTPA) in Samawah.
