Maple Leaf Cement

Maple Leaf Cement is a Pakistani cement manufacturer based in Lahore. It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, DG Cement, Bestway Cement, and Fauji Cement.

History
Maple Leaf Cement was founded in 1956 by the West Pakistan Industrial Development Corporation in a collaboration with the Government of Canada. In January 1992, Maple Leaf Cement was acquired for Rs 486 million by Nishat Mills under the privatization scheme of the Government of Pakistan. Later, it was transferred to Saigol Group in a swap scheme in which Nishat Group acquired DG Cement from Saigol Group.

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. The project had a total cost of US$160.8 million. 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. 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 on August 17, 1994. The financing was used to acquire a new cement plant from FLSmidth.

In 2005, Maple Leaf Cement increased its production capacity from 100 to 600 tons per day. The company also optimized its dry process plant, increasing its capacity from 3,300 to 4,000 tons per day. Additionally, an expansion project was initiated to increase grey cement production by 6,700 tons per day.

In November 2022, Maple Leaf Cement commissioned a new grey clinker production line at its brownfield site in Iskanderabad, Punjab, Pakistan. 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.