Cement News tagged under: Cherat Cement
Cement players expect demand in FY24 to remain stable16 June 2023, Published under Cement NewsTopline Securities hosted the Pakistan Cement Conference 2023, where top executives of major cement players Maple Leaf Cement (MLCF), Lucky Cement (LUCK), DG Khan Cement (DGKC), Cherat Cement (CHCC), Kohat Cement (KOHC) and Pioneer Cement (PIOC) participated in the conference through Zoom recently. They ruled out unanimous fears of a price war, stating that it would be unwise to start a price war due to economic conditions and slow demand. However, they believed that major ... |
Three Pakistan producers post profits in 1HFY22-2323 February 2023, Published under Cement NewsThree of Pakistan’s cement factories have posted a profit in operation between July and December of FY22-23 (1HFY22-23). However, double-digit inflation, a hike in interest rates and a sharp devaluation of the Pakistani rupee have dampened cement demand. Moreover, low GDP growth, high cost of construction materials and the cut in Public Sector Development Programmes (PSDP) saw cement dispatches decline by 21 per cent YoY in the 1HFY22-23. Fauji Cement Fauji Cement Co Ltd (FCCL) earned... |
APCMA elects new executive committee23 November 2022, Published under Cement NewsMuhammad Ali Tabba, chief executive of Lucky Cement , has been appointed chairman of the All Pakistan Cement Manufacturers Association (APCMA) for the 12 months ending September 2023. Senior vice chairman of the APCMA over the same period has been named as Kohat Cement ’s Aizaz Mansoor Sheikh, while Attock Cement ’s Babar Bashir Nawaz has been elected vice chairman. Also elected were eight executive committee members, including: Sayeed Tariq Saigol ( Maple Leaf Cement ) Azam Fa... |
Cherat Cement's Line 1 BMR project to complete in January17 November 2022, Published under Cement NewsThe balancing, modernisation and replacement (BMR) project of Cherat Cement Co for Line 1 will complete on January 2023. Cherat Cement has stated that works would be completed by January 2023 on the BMR for Cement Line 1 and installing the main crusher at Lakrai village, Nowshera district, Khyber Pakhtunkhwa (KPK) province, Pakistan, according to the latest company report for the period ending on 30 September 2022. Last year, Executive Director and Company Secretary, Abid Vazir, informed ... |
Cherat Cement greenfield project likely to be delayed09 September 2022, Published under Cement NewsThe management of Cherat Cement Ltd informed that a letter of credit for the 8000-9000tpd greenfield project at Dera Ismail Khan in Khyber Pakhtunkhwa, Pakistan, has not been opened yet and may be delayed. It added that new letters of credit cannot be opened currently due to State Bank of Pakistan restrictions and economic instability. The cost of the project will be decided once the PKR-US$ partity stabilises, but it is estimated at US$40m. To date, the project has seen ground works s... |
Cherat Cement Co’s net profit rises 39% YoY30 August 2022, Published under Cement NewsCherat Cement Co Ltd (CHCC) announced its annual financial results for the year ended 30 June 2022 (FY21-22), on 25 August 2022, by declaring of net profit of PKR4.45bn (US$20.3m), which was increased by 39 per cent YoY, as compared to PKR 3.2bn in the same period last year. Net sales during the reporting period advanced by 27.3 per cent to PKR 32.08bn in FY21-22 from PKR 25.20bn during the same period last year, said a company bourse filling to Pakistan Stock Exchange (PSX). It incu... |
Cherat Cement Co sells its hydropower project's feasibility15 July 2022, Published under Cement NewsDirector and Chief Operating Officer of Cherat Cement Co Ltd (CHCC), Yasir Masood, informed the Pakistan Stock Exchange (PSX) on 14 July that Madian Hydro Power Ltd (MHPL) has entered into an agreement with Pakhtunkhwa Energy Development Organization (PEDO) of the KPK government for sale of the feasibility study of Madian, a 148MW hydro power project for total consideration of PKR160m (US$762,485) and has also received the sale consideration. CHCC, owned by Pakistan's Ghulam Faruque ... |
Pakistan’s producers contend with soaring costs05 May 2022, Published under Cement NewsIn the first nine months of the current financial year (9MFY22), Pakistan’s cement producers sold 40.8Mt of cement, down 2.5Mt or 5.8 per cent on the same period a year earlier. While local dispatches have remained stable at 36.1Mt, exports have fallen by 35 per cent. With costs continuing to soar, domestic cement producers are reporting a mixed bag of results as the industry reels from the economic fallout of the pandemic and ongoing crisis in Ukraine. According to estimates by research... |
Cherat Cement sees turnover rise 47% YoY31 August 2021, Published under Cement NewsPakistan's Cherat Cement Co has posted a profit of PKR3.21bn (US$19.29m) for the financial year ended 30 June 2021, according to a bourse filing. The company had recorded a loss of INR1.89bn for the FY19-20. Net turnover also advanced 47 per cent YoY to INR25.21bn in the FY20-21, compared to INR17.09bn in the previous year. |
Cherat Cement Co receives approval for greenfield plant25 June 2021, Published under Cement NewsCherat Cement Co Ltd (CHCC) has informed the Pakistan Stock Exchange Ltd (PSX) that the Board of Directors of the company, in its meeting held on 24 June 2021, has approved a greenfield cement plant installation at DI Khan, Khyber Pakhtunkhwa Province in Pakistan. According to Azam Faruque, CHCC Chief Executive, the plant will have an installed production capacity of 11,000tpd of clinker. The project's total cost is estimated to be approximately PKR34bn (US$215.4mn), with completion of... |