Cement News tagged under: Lucky Cement
Lucky Cement: Karachi expansion scheduled for end-201722 February 2017, Published under Cement NewsLucky Cement Ltd is currently undergoing a series of investments in capex projects. Its 1.25Mta Karachi plant expansion poject is scheduled to be operational by the end of 2017, while the company is still in the process of seeking approvals and necessary authorisations for a 2.3Mta greenfield integrated cement plant in Punjab province. Company officials hope that construction at the Punjab site will start by the end of June 2017. In addition, the 10MW waste heat and recovery (WHR) syste... |
Lucky Cement sees half-year profits rise 12.5% to US$67m27 January 2017, Published under Cement NewsLucky Cement has announced that its profits rose by 12.5 per cent YoY in the last six months of 2016 to PKR7bn (US$67m). In a statement to the Pakistan Stock Exchange, Lucky revealed that it had sold 3.5Mt of cement and 235,000t of clinker during the first six months of FY17. Cement sales improved over the previous year by 5.4 per cent, while no clinker sales at all took place in the corresponding period in FY16. Cement production also rose to 3.5Mt, up six per cent on FY16, while clin... |
Pakistan: Lucky Cement's Pezu plant is operating normally09 January 2017, Published under Cement NewsIt has been clarified by a leading research house after consulting management of Lucky Cement in Pakistan that Pezu cement plant was not shut down on account of an environmental issue. Invest and Finance Securities Lt in a report said that following the news circulating in both local and international news streams that Khyber Pakhtunkhwa (KPK) government closed Lucky Cement’s Pezu plant in Lakki Marwat, owing to its failure to conform to environmental standards, the research house has che... |
Pakistan: Lucky Cement considers buying Hattar plant and investing in Iraq09 December 2016, Published under Cement NewsLucky Cement has announced that it has begun the due diligence process for the purchase of Dewan Cement’s 1.134Mta Hattar plant and that separately it would look to expand its grinding plant in Basra, Iraq, according to Pakistan’s The News. Lucky’s corporate strategy calls for an expansion of its business into northern Pakistan, for which the Hattar plant – located around 25km from Islamabad – is well suited. The Basra plant, which Lucky holds as a joint-venture with an Iraqi partner, ... |
Pakistan: gas price reduction to benefit cement manufacturers28 November 2016, Published under Cement NewsThe Federal Minister for Finance, Senator Mohammed Ishaq Dar, approved a gas price reduction at a meeting of the Economic Coordination Committee (ECC). The decision will see prices fall from PKR600 to PKR400/mBTU. Lucky Cement, DG Khan Cement and Maple Leaf Cement, each of which operate captive gas-fired power facilities, are set to benefit from the decision with the impact on profitability estimated at 4.1 per cent, 1.6 per cent and 1.2 per cent, respectively. |
Pakistan: Lucky Cement 1QFY2017 profits up 16%28 October 2016, Published under Cement NewsIn its financial statement for the first quarter of the financial year starting in July, Lucky Cement has declared profits of PKR4.04bn (US$38.6m), the Express Tribune reports. This represents an increase of 16 per cent compared to the same period last year. Revenues were five per cent higher at PKR19.8bn, but much of the gain was driven by non-cement subsidiaries. Considering the cement business in isolation, Lucky’s revenues were PKR10.6bn, up two per cent, on sales of 1.7Mt. Domesti... |
Pakistan: Maple Leaf and Lucky Cement plan power plants24 October 2016, Published under Cement NewsPakistan's two leading cement manufacturers, Maple Leaf Cement Factory (MLCF) and Lucky Cement, have approached the National Electric Power Regulatory Authority (NEPRA) to obtain a formal generation licence for setting up power plants in the country. Maple Leaf Cement has earlier announced that its wholly-owned subsidiary company, Maple Leaf Power Ltd, had signed an agreement with plant supplier Sinoma Energy Conservation Ltd, China, to build a 40MW imported coal-fired power plant at Isk... |
DR Congo: new plants to fight imports07 October 2016, Published under Cement NewsThis week it was announced that the Cementerie Kongo (CIMKO) greenfield cement plant project, a joint venture between Lucky Cement Ltd and the local Groupe Rawji, would be completed this October. While it will take a short while for the plant to be optimised, its targeted cement capacity of 1.2Mta is expected to be pressed into action as soon as possible to serve the country's 3Mta cement demand. While GDP in the Democratic Republic of Congo has slipped, with the government forecasting 4... |
Environmental award for Lucky Cement07 September 2016, Published under Cement NewsPakistan's Lucky Cement Ltd has been awarded the 13th Annual Environmental Excellence Award 2016, presented at the ‘Making Our Cities Sustainable’ conference organised by the National Forum for Environment and Health. The award recognised Lucky Cement’s contribution to sustainable development and economic growth of the country. CEO of Lucky Cement, Amin Ganny, said, "Conserving the environment is Lucky Cement's utmost priority. And, it is because of our commitment to the environment that ... |
Lucky Cement's profits up 9.3%02 September 2016, Published under Cement NewsAs a result of an increase in turnover, Lucky Cement's full year profits increased by 9.3 per cent. The company reported earnings of PKR16.15bn (US$154.67m) compared to PKR14.78bn for the same period last year. These results are in line with the market expectations. Net sales were recorded at PKR98.65bn, compared to PKR96.47bn last year, and cost of production fell from PKR56.43bn to PKR54.24bn. A gross profit of PKR27.9bn was recorded, an 8.6 per cent increase from PKR25.68bn in the pre... |