Power Cement's Kiln Line III to resume operations by the end of April 2022

Power Cement Ltd informed Pakistan Stock Exchange (PSX) on 11 April 2022, that a component of the new Line III of the company’s plant at Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh, was damaged at the end of January 2022. 

According to Power Cement's Company Secretary, Salman Gogan, it does not expect an adverse financial impact due to the warranty coverage and the availability of stock sufficient to cover over two months of sales. Meanwhile, the planned periodic maintenance of the plant was also performed at this time.

The vendor has now reported a delay in the supply of the damaged component. Despite this occurrence, the company remains operational and dispatches continue throughout, a bourse filing added. Power Cement is presently operating through Line II and is further supporting its operations by the purchase of clinker locally.

However, the company is confident that Kiln Line III is expected to resume operations by the end of April 2022.

Company performance in 1HFY22
The dispatches of cement and clinker (locally and export) increased by four per cent to 1.264Mt for the six months ended 31 December 2021, from 1.213Mt  of the corresponding period last year. The overall capacity utilisation of clinker stood at 79 per cent compared to 75 per cent of the corresponding period. The company achieved a profit after tax of PKR280m (US$1.54m) during the period under review compared to PKR154m reported during the same period last year, says the company report.