Lucky 1H performance and project update

Lucky 1H performance and project update
Published: 23 February 2016

One of Pakistan's largest cement producers and exporters, Lucky Cement Co, declared a profit after tax of PKR6255m (US$59.8m) during the first half of fiscal 2015-16, representing a YoY rise of 11.7 per cent. Meanwhile, the company is progressing with plans for a new integrated plant in Pakistan's Punjab province, as well as new waste heat recovery unit at Pezu.

The company's volumes over the six-month timeframe rose by two per cent YoY to 3.32Mt, driven by a 19.7 per cent advance in domestic sales to 2.42Mt. However, exports dropped by 27 per cent to 0.9Mt versus 1.23Mt in the comparative period of the previous year.

Projects – new and ongoing

Fully-integrated greenfield plant in Punjab province, Pakistan
The company is currently in negotiations with the provincial government of Punjab to acquire land for a greenfield cement plant. It is also in the process of negotiating contracts for the supply of equipment, a process which is expected to be finalised within the first quarter of 2016.

WHR projects at Pezu
Meanwhile, Lucky Cement's 5MW waste heat recovery plant at Pezu has been operational since the end of October 2015. The company has decided to set up another WHR plant at Pezu, this time with a capacity of 10MW. An order has already been placed with an equipment supplier and the project is expected to be completed by December 2016.