Cherat Cement to invest in wind power joint venture, Pakistan

Cherat Cement to invest in wind power joint venture, Pakistan
Published: 11 September 2015


Cherat Cement Company Co Ltd (CCCL) informed the Karachi Stock Exchange (KSE) on 10 September. that it plans to invest up to PKR250m (US$2.4m) in a joint venture wind power generation company.

The planned capacity of the power project is 50MW. Shareholder approval for investment in the proposed company will be sought at CCCL's annual general meeting to be held on 16 October 2015.

Nine month performance
During the first nine months of FY14-15, the company's overall dispatches increased by one per cent. In
line with industry growth, there was an eigher per cent increase in domestic sales. However, exports to Afghanistan declined by 14% due to political uncertainty, which is expected to improve.

Expansion
The company is also enhancing its production capacity by installing another production line at its existing site in Nowshera, Khyber Pakhtunkhwa Province. The project has been awarded to Tianjin Cement Industry Design and Research Institute Company Limited (TCDRI) of China. Cherat will also install a 6MW waste heat recovery system at the new line.