Cement News tagged under: Lucky Cement Limited

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Lucky Cement updates progress on overseas and local projects

16 September 2019, Published under Cement News

Lucky Cement is currently implementing two cement projects:  the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place in FY20-21.   Similarly, the letter of credit for the power plant in Iraq has been established and s...

Mixed court orders for Pakistan's cement industry

20 November 2018, Published under Cement News

The cement industry has received mixed court orders from Supreme Court of Pakistan and Peshawar High Court on environmental/water scarcity and the gas tariff issue, respectively last week. Lucky Cement Ltd has received a stay order from the Peshawar High Court bench, which has temporarily directed the gas utility company Sui Northern Gas Pipelines Ltd (SNGPL) not to collect a higher tariff from the cement company. The court also sought written response from the petroleum secretary, Oil an...

Lucky Cement re-appoints top directors

12 October 2018, Published under Cement News

Irfan Chawala, CFO of Lucky Cement, has informed Pakistan's Stock Exchange of the re-appointment of top executives of the company. The Board of Directors has re-appointed Muhammad Yunus Tabba as the Chairman of the Board of Directors for another term of three years, while Muhammad Ali Tabba is also re-appointed, as CEO for three years. Other company directors are Muhammad Sohail Tabba, Jawed Yunus Tabba and Mariam Tabba Khan, which have been appointed as non-executive directors as well a...

Lucky Cement earns PKR12.20bn after-tax profit in FY18

01 August 2018, Published under Cement News

Lucky Cement earned after-tax profit of PKR12.2bn (US$98.4m) in FY18 as compared to PKR13.69bn in the same period last year, said the company filing to PSX. Experts comment that Lucky Cement's net sales grew by only 4.1 per cent YoY to PKR47.54bn despite a 9.3 per cent YoY increase in dispatches, largely due to lower retention prices during the year. Cost of sales grew by 25 per cent YoY PKR30.59bn, mainly on account of elevated coal and fuel oil prices on the international market, the dev...

Pakistan's exports tipped to increase

01 June 2018, Published under Cement News

Experts are hoping an increase in exports of cement from Pakistan during the outgoing FY18. The country recorded its highest growth of cement exports during 2008-10, when, it hovered around 10.75Mt. Of late, exports have started to drift and reached at 4.66Mt in 2016-17 and 3.9Mt in 10 months of FY18.   According to a research house report, cement exports are expected to post stellar growth of more than 37 per cent YoY in May, due to addition of new production plants of Lucky Cement and Att...

Lucky Cement may opt for Pezu expansion

29 January 2018, Published under Cement News

Lucky Cement of Pakistan has announced that in view of the continued delay in expansion plant for north, the company is evaluating for brownfield expansion of 2.3Mta at its existing plant location in Pezu, Lakki Marwat district, in the Khyber Pakhtunkhwa province.   The company's 2.3Mta fully-integrated greenfield works in Punjab province is currently awaiting approval from the Punjab government to start construction, said the company in a bourse filing. Therefore, Lucky Cement is conside...

Lucky completes 1.3Mta expansion line in Karachi

18 December 2017, Published under Cement News

Lucky Cement has informed the Pakistan Stock Exchange (PSX) on 18 December that construction and installation work for its 1.3Mta brownfield kiln line at its Karachi plant in Sindh province, Pakistan, has been successfully completed on time. A bourse filing of company says: "The new line was made operational with commencement of clinker production on 12 December 2017. With the addition of this new line in Karachi for 1.3Mt and certain efficiency improvements brought about recently in the...

Lucky Cement profits grow by 6.8% in 1QFY18

30 October 2017, Published under Cement News

Pakistan-based Lucky Cement Co Ltd reported 1QFY18 earnings of net profit of PKR3.01bn (US$28.5m), up by 6.8 per cent YoY.   The company's revenue increased six per cent YoY to PKR11.2bn. This growth was primarily attributable to a rise in total dispatches YoY.   The company achieved an overall growth of 5.9 per cent with a total sales volume of 1.8Mt during the first quarter compared to 1.7Mt last year. While the cement producer's local sales volume saw a growth of 14.3 per cent to 1.54...

Pakistan's local dispatches expected to grow at 3% in September

29 September 2017, Published under Cement News

Experts foresee that total cement sales in September 2017 to observe a decline of two per cent YoY to clock in at 3Mt. Out of which, exports are likely to depict a downward trajectory, dropping by 26 per cent YoY to 387,000t while local dispatches are expected to grow three per cent YoY to 2.6Mt. According to estimates of local research house, region wise distribution suggests that domestic sales during September in the north and south registered growth of five per cent YoY to 2.2Mt and ...

Lucky Group forms joint venture for LNG terminal

04 September 2017, Published under Cement News

A joint venture comprising leading cement producer Lucky Group along with, Sapphire group and Hallmore Power, is planning to set up a liquid natural gas (LNG) terminal at Port Qasim near Karachi to facilitate import of liquid gas in country. Port Qasim Authority (PQA) Chairman Agha Jan Akhtar told media that the consortium is expected to set-up a floating ship re-gasification unit (FRSU) with a capacity of 600msft 3 per day. LNG wil be imported and marketed by themselves as there is ...