Cement News tagged under: Cherat Cement
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... |
Cherat Cement Co plans Line No 1 modernisation19 January 2021, Published under Cement NewsCherat Cement Co Ltd has informed Pakistan Stock Exchange (PSX) that the Board of Directors in its meeting held on 18 January 2021, decided to undertake balacing, modernisation and replacement (BMR) for Cement Line 1 and install the main crusher at Lakrai village, Nowshera district, Khyber Pakhtunkhwa (KPK) province, Pakistan. According to Executive Director and Company Secretary, Abid Vazir, these measures will help improve the operational efficiencies of the plant. The total cost of BMR... |
Cherat Cement to receive gas for its captive power plant04 March 2020, Published under Cement NewsCherat Cement Co Ltd (CHCC) has started receiving gas supply from Sui Northern Gas Pipelines Ltd, for its for its plant located at Nowshera in KPK province, Pakistan. This will help in reducing the production costs of the company, said the company's Executive Director Abid Wazir. According to the company's half-yearly report ending December 2019, to reduce its production costs, CHCC is also installing 12.3MW solar panels at the factory. Furthermore, it has signed a Wheeling Regime Energy P... |
Cherat Cement profits hit by high cost of sales in 1HFY2012 February 2020, Published under Cement NewsCherat Cement Co Ltd (CHCC) of Pakistan has announced its financial result for 1HFY20 through Pakistan Stock Exchange (PSX) on 12 February 2020. It posted a loss after tax (LAT) of PKR560.1m (US$3.63m) during the first six months of FY20, against a profit after tax of PKR1.02bn earned during the same period last year. The high cost of sales and financing component impacted the company's bottom line. Although the net sales of company increased to PKR9.5bn from PKR 7.03bn, cost of sales rose ... |
Cement prices are fluctuating in Pakistan02 January 2020, Published under Cement NewsAccording to a local research house, cement prices in north of Pakistan have declined from the recent peak of PKR550/bag (US$3.55/bag) (October 2019) and now they have fallen below PKR490/bag in some areas of north Pakistan. An analyst of Intermarket Securities Ltd attributes this fall to a drop in demand during the winter season as well as reportedly aggravated price competition by Cherat Cement (CHCC), which is trying to sell in other markets than its allocated areas. According to the r... |