| Maple Leaf Cement | |
| Type: | Public |
| Traded As: | KSE 100 component KSE 30 component |
| Location: | Lahore, Pakistan |
| Key People: | Sayeed Tariq Saigol (CEO) Tariq Sayeed Saigol (chairman) |
| Industry: | Cement |
| Revenue Year: | 2023 |
| Income Year: | 2023 |
| Net Income Year: | 2023 |
| Assets Year: | 2023 |
| Equity Year: | 2023 |
| Owner: | Kohinoor Textile Mills (56.50%) |
| Parent: | Saigol Group |
| Subsid: | Maple Leaf Power Limited Maple Leaf Industries Limited |
| Footnotes: | Financials [1] |
Maple Leaf Cement (Urdu: میپل لیف سیمنٹ) is a Pakistani cement manufacturer based in Lahore.[2] [3] It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, DG Cement, Bestway Cement, and Fauji Cement.[4] [5] [6]
Maple Leaf Cement was founded in 1956 by the West Pakistan Industrial Development Corporation in a collaboration with the Government of Canada.[7] [8] In January 1992, Maple Leaf Cement was acquired for Rs 486 million by Nishat Mills under the privatization scheme of the Government of Pakistan.[9] Later, it was transferred to Saigol Group in a swap scheme in which Nishat Group acquired DG Cement from Saigol Group.[10]
In April 1994, Maple Leaf Cement began a project to expand its cement production capacity of annual grey portland cement from 0.6 million tons to 1.6 million tons.[11] The project had a total cost of US$160.8 million.[11] The International Finance Corporation (IFC) contributed US$45.2 million in financing to the project, which was part of a larger US$160 million investment program.[11] 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.[11] The remaining financing was raised by listing the company on the Karachi Stock Exchange on August 17, 1994.[12] The financing was used to acquire a new cement plant from FLSmidth.[11] [13]
In 2005, Maple Leaf Cement increased its production capacity from 100 to 600 tons per day.[14] The company also optimized its dry process plant, increasing its capacity from 3,300 to 4,000 tons per day.[14] Additionally, an expansion project was initiated to increase grey cement production by 6,700 tons per day.[14]
In November 2022, Maple Leaf Cement commissioned a new grey clinker production line at its brownfield site in Iskanderabad, Punjab, Pakistan.[15] The production line was supplied by Chengdu Design & Research Institute of China and increased the site's production capacity by 7000 tons per day.[15] The total cost of the project was PKR 20 billion (approximately US$90.2 million at the time).[15] 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.[15] [16]