Cement News tagged under: Cherat Cement Co

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Profitability of top six Pakistan producers remains under pressure in 1QFY20

21 October 2019, Published under Cement News

The top six cement producers in Pakistan are likely to report a fall in profits and losses in 1QFY20 on the back of significantly build-up in cost pressures, weak domestic demand, infighting among northern-based producers, local taxation issue and axle load factors, says a report of a local research houses. Analyst expects that the IMS Cement Universe (comprising Lucky Cement, Maple Cement, Kohat Cement, DG Khan Cement, Fauji Cement and Cherat Cement) to post combined net loss after tax o...

Pakistan-Afghanistan Torkham border inauguration to facilitate cement trade

18 September 2019, Published under Cement News

Pakistan's Prime Minister, Imran Khan, along with top officials of government of Afghanistan, are expected to inaugurate round-the-clock operation of Torkham border crossing between Afghanistan and Pakistan today, subject to security clearance, etc. This is expected to support higher volumes of imports and exports, including cement, between the two countries.   The Pakistan cement industry, particularly factories located in northern area of Pakistan are pinning their hopes that the opening o...

Cherat Cement becomes sixth-largest producer in Pakistan

13 September 2019, Published under Cement News

Cherat Cement Co Ltd (CHCC) has become the sixth-largest cement producer with eight per cent market share in Pakistan following the successful installation and commissioning of Cement Line III at the Lakrai plant, Nowshera district, Khyber Pakhtunkhwa. The new line has a clinker capacity of  more than 6700tpd and features a waste heat recovery plant.   With this expansion, the company has increased its total cement capacity to more than 4.5Mta. The project was completed well before schedul...

CEOs Lucky and Cherat Cement appointed to Pakistani business council

05 October 2018, Published under Cement News

The Pakistani government has selected two heads of leading local cement companies for the 22-member Council of Business Leaders, according to a notification from the Ministry of Commerce and Textile. Muhammad Ali Tabba, CEO of Lucky Cement Ltd, and Azam Farooque, CEO of Cherat Cement Co, are to be appointed to the council, which enables Pakistani business leaders to provide feedback on the government’s business, economic, investment, tariff and taxation policies. Their main task is to assi...

Cherat Cement’s FY18 profit increases by 9%

30 August 2018, Published under Cement News

Cherat Cement Co Ltd (CHCC) of Pakistan earned a net profit of PKR2.13bn (US$17.3m) in FY18, up by nine per cent YoY, as compared to PKR1.96bn in the same period last year. Net sales grew substantially by 49 per cent YoY to PKR14.39bn largely driven by full year operations of production line II, inaugurated in January 2017. This was despite the industry's failure to pass over enhanced FED, up by 25 per cent YoY during the year due to intense competition therein, an analyst observed. The...

Cherat Cement's 1H profits up 32%

09 February 2018, Published under Cement News

Cherat Cement (CHCC) announced earnings of net profit after tax of PKR1.34bn (US$12.1m) for the July-Dec 2017 period against PKR1.02bn in the corresponding period last year, showing a YoY growth of 31.6 per cent. The company also announced in a bourse filing an interim cash dividend of PKR1/share. The company's net sales increased from PKR4.08bn to PKR7.58bn during the period. Cherat Cement incurred a distribution cost of PKR165m and administrative expenses of PKR119m compared to PK...

Cherat Cement Pakistan profits up by 50%

31 October 2017, Published under Cement News

Cherat Cement (CHCC) of Pakistan has announced 1QFY18 net profit after tax of PKR606m (US$5.75m), up 50 per cent YoY.   The company net sales grew by 33 per cent YoY to PKR 3.891bn. It incurred distribution expenses of PKR81m and administrative expenses of PKR57m compared with PKR63m and PKR50m, respectively in 1QFY17.   Along with result, CHCC announced the installation of a 10MW WHR system on Line III. The plant is expected to cost PKR1.2bn and would commence operations right afte...

Wärtsillä receives 29MW power engine order from Cherat Cement

25 September 2017, Published under Cement News

Finland-based technology group Wärtsilä is to supply power generation equipment for an extension to Cherat Cement Ltd. The Pakistani cement producer has contracted Wärtsilä to supply three Wärtsilä 34DF dual-fuel engines capable of operating on both natural gas and heavy fuel oil (HFO). The total electrical output will be approximately 29MW. Wärtsilä will also provide advisors to oversee the installation and commissioning of the engines. Cherat Cement, located in the Khyber Pakhtunkhwa...

Pakistan: Cherat plans third production line

24 January 2017, Published under Cement News

Pakistan cement producer Cherat Cement Company has disclosed that it will undertake another expansion of some 2.34Mta (7100tpd) at its existing site of Nowshera, Khyber-Pakhtunkhwa, in north of the country. Azam Faruque, Cherat Cement's CEO has informed Pakistan Stock Exchange (PSX) that it would take its total cement capacity to  around 4.64Mta. The Board of Directors has authorised the company's management to finalise terms and conditions for the procurement and supply of equipment ...

Pakistan: start-up of second Cherat production line

01 November 2016, Published under Cement News

Cherat Cement Factory's Line 2 with a cement capacity of 4500tpd formally started production on 31 October 2016. The construction of the second line began in 2014 and has been completed within two years, said a senior manager at the factory. Cherat Cement is a a Ghulam Faruque Group (GFG) company and its existing 3200tpd line has been operational since 1985. The plant is located at Lakrai village, district Nowshera, Khyber Pakhtunkhwa province. Due to plant’s geographical position in t...