Cement News tagged under: Lucky Cement

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Lucky Cement eyes Sri Lanka grinding project

29 November 2012, Published under Cement News

Pakistan’s largest cement producer Lucky Cement is considering the construction of a 500,000tpa grinding plant in Sri Lanka as part of its plan to expand its presence overseas. Bloomberg newswires quoted chief executive Muhammad Ali Tabba as saying that the firm has sought state land to build a factory. Pakistan's Tatta Cement has already been given a concession to build a grinding plant in Sri Lanka's Hambantota port. The company is also constructing a 1.2Mta plant in Congo and a grin...

Lucky’s US$160m Vietnam investment short on raw materials

26 November 2012, Published under Cement News

Chen Liang-chuan, the founder of the Taiwan-based Lucky Cement Corp, may see his US$160m into He Duong Cement Co, Nin Binh, Vietnam in 2008 evaporate as the project has found itself suddenly without adequate raw material sources, according to Venews. Chen Liang-chuan was awarded by the local government the right to mine a 72ha limestone field for 49 years. The project was approved by Nguyen and related ministries. However, just as the plant’s two new 4Mta production lines were about to st...

Lucky Cement plans Indian plant

23 November 2012, Published under Cement News

Pakistani cement producer Lucky Cement has expressed interest in establishing a manufacturing plant in India.  “Currently, Lucky Cement is contemplating having a direct presence in India once it has achieved key understanding of the Indian market and the opportunities it may offer,” said a spokesperson. “At present, Lucky Cement is seeking guidance both from the Pakistan and Indian government authorities on the existing FDI policy.” If it is realised the investment would be a modest bu...

Lucky Cement 1Q net rises, updates on international expansion

26 October 2012, Published under Cement News

Lucky Cement has reported a strong rise in profit after tax for the first quarter of the current fiscal year and provided a progress update on its expansion into Iraq and Democratic Republic of Congo. The company declared an after tax profit of PKR2014m (US$21m) for the quarter ending 30 September 2012, representing an increase of 33.79 per cent higher than the same period of last year, thanks to higher domestic sales. Gross profit increased by 32.87 per cent as net sales revenue improve...

Lucky Cement wins sustainability award, Pakistan

11 October 2012, Published under Cement News

Lucky Cement Limited, Pakistan's largest cement manufacturer and exporter, has received the Best Sustainability Report and the Best Corporate Report Awards - 2011. Lucky Cement secured overall Top position in the category for Best Sustainability Report Award, whereas its Corporate Report received 1st position in cement and sugar category. ??These awards for year 2011 were announced in a ceremony by the Institute of Chartered Accountants of Pakistan and the Institute of Cost and Management...

Lucky Cement domestic sales boost full-year profit, Pakistan

16 August 2012, Published under Cement News

Lucky Cement reported a 71 per cent rise in full year net profit as domestic sales offset a decline in exports. Net income was PKR6.78bn (US$71.8m) in the 12 months ended 30 June with a PKR3.97bn (US$623.5m) a year earlier, the Karachi-based company said in a filing to the stock exchange. Revenue rose 23 per cent to PKR39.1bn while sales were three per cent higher at 5.97Mt. Domestic sales rose seven per cent while exports were down 4.7 per cent to 2.25Mt, the company said. A total ...

Lucky Cement-led consortium acquires ICI Pakistan

01 August 2012, Published under Cement News

Lucky Cement, in consortium with other Yunus Brothers Group (YBG) entities, has acquired a 75.81 per cent shareholding in chemical producer ICI Pakistan from Omicron BV, a 100 per cent owned subsidiary of AkzoNobel NV of The Netherlands. The Share Purchase Agreement was signed in Amsterdam on 27 June 2012 after the close of stock markets. The bid value of this acquisition is US$152.2m. Lucky Cement Limited – the flagship company of Yunus Brothers Group lead the consortium with 50 per c...

Lucky Cement supplies electricity to HESCO, Pakistan

03 July 2012, Published under Cement News

Pakistan-based producer Lucky Cement has started supplying excess electricity generated from its power generation plants to a domestic electricity distribution company. Lucky Cement is selling 20MW/h of electricity to Hyderabad Electricity Supply Company Ltd (HESCO), a company official has said. The company is also likely to start selling the same amount to Peshawar Electricity Supply Company (Pesco) by mid-July, a spokesperson told local press at News Tribe, noting that talks are underwa...

Pakistan budget brings relief measures to cement sector

07 June 2012, Published under Cement News

Pakistan's Finance Minister Dr. Abdul Hafeez Shaikh has announced number of incentives and relief for various sectors including the cement industry in the Federal Budget July 2012 - June 2013.   Dr Shaikh announced an increase in the Public Sector Development Program (PSDP), which is also spent on infrastructure development, to PKR873bn, up 20 per cent from last year. Federal Excise Duty (FED) on cement pricea has been reduced by PKR100/t (PKR5/bag) to PKR400/t (PKR20/bag). In addition, the...

Lucky Cement to receive approval for wind farm investment, Pakistan

14 May 2012, Published under Cement News

Pakistan cement producer Lucky Cement is to set to receive approval at an extra-ordinary general meeting on 31 May for an investment in the associated company Yunus Energy Ltd which is establishing a 50MW wind power plant in Sindh. The Pakistan Banker reports that Lucky Cement plans to make an investment of PKR385m (US$4m), divided into 38.5 million ordinary shares of PKR10 each.