Cement News tagged under: Lucky Cement
Lucky Cement first-half profit up 8.5%23 February 2015, Published under Cement NewsPakistan's leading cement producer, Lucky Cement, reported a profit after tax of PKR5.6bn (US$55.1m) during the first half of FY14-15 versus PKR5.16bn a year earlier. During the six-month period, net sales rose nine per cent YoY to PKR21.4bn. The increase is attributed to a 9.2 per cent uptake in sales volumes to 2.02Mt, a 2.24 per cent improvement in exports to 1.23Mt and a 2.91 per cent rise in net retention. According to Al Habib Capital Markets, Lucky Cement's margins remained sta... |
Lucky Cement gets go-ahead for coal power plant investment14 January 2015, Published under Cement NewsLucky Cement Ltd's Board of Directors has approved the investment of around PKR27bn (US$268.4m) to set up a 660MW coal-based power plant in Karachi, Pakistan. Under the name of Lucky Electric Power Co Ltd (LEPCL) the power plant will be wholly-owned by Lucky Cement and will be financed with a debt/ equity ratio of 75:25. The announcement comes shortly after fellow-Pakistan producer Attock Cement Ltd signed an Memorandum of Understanding with K-Electric to establish a coal-fired plant fo... |
AfDB mobilises US$60m loan for DRC cement project05 December 2014, Published under Cement NewsThe Nyumba Ya Akiba Cement project in the DR of Congo marked a significant milestone last week with the loan signing of US$135m. The 1.18Mta greenfield plant is a 50/50 joint venture between leading Pakistan cement producer Lucky Cement Ltd and Groupe Rawji, one of the DRC’s largest conglomerates. The project has attracted financial support from the African Development Bank (AfDB), Eksport Kredit Fonden (EKF, as guarantor to AfDB), Emerging Africa Infrastructure Fund (EAIF), Habib Ban... |
Pakistan: Lucky Cement first-quarter profit up 4.8%31 October 2014, Published under Cement NewsLucky Cement Ltd, Pakistan’s leading cement producer, saw a 4.8 per cent rise in net profit for the first quarter of the current Pakistan fiscal to PKR2.669bn (US$26m). Earnings per share (EPS) during the July-September 2014 period increased to PKR8.25 against PKR7.87 in the corresponding period last year. Gross profit increased by 5.9 per cent during the quarter as its net sales revenue improved by 12.2 per cent to PKR10.470bn against PKR9.332bn of the corresponding period last year. Loca... |
Pakistan: Lucky plans 660MW power project29 September 2014, Published under Cement NewsDirectors of Lucky Cement have asked shareholders permission to set up of a 660MW coal-based power project in Karachi through the Lucky Holdings Limited (LHL) subsidiary, according to Reuters. The proposal will be considered in the company’s September annual general meeting. A new company, Lucky Electric Power Co Ltd (LEPCL) will set up the plant which is expected to cost INR20bn (US$200m). Lucky Power will be a wholly-owned subsidiary of LHL and a 75 per cent indirect subsidiary of the ... |
Lucky alters ownership structure of coal-based power project17 September 2014, Published under Cement NewsLucky Cement has announced a change in the planned structure of its 660MW coal-based power plant, according to a company notice issued to the Karachi Stock Exchange, The board of directors of Lucky Cement has decided that Lucky Electric Power Company Ltd will be a wholly-owned subsidiary of Lucky Cement instead of Lucky Holdings Ltd. Intially, the group planned to set p the power plant as a wholly-owned subsidiary under the 75 per cent-owned ubsidiary Lucky Holdings Ltd. While the ... |
Lucky boosted by higher volumes and pricing03 September 2014, Published under Cement NewsPakistan’s largest cement producer, Lucky Cement, reported a net profit of PKR11.3bn (US$110.34m) for the fiscal ending 30 June 2014, up 16.4 per cent compared to PKR9.7bn in the previous year. Earnings growth was primarily supported by higher sales volumes and prices during the period. On a quarterly basis, earnings grew four per cent QoQ to PKR3.15bn. Revenue increased 14 per cent YoY to PKR43.08bn during FY14 because of a nine per cent rise in sales volumes to 6.62Mt and a 14 per ce... |
FLSmidth wins DR Congo plant project21 August 2014, Published under Cement NewsFLSmidth has won a contract worth EUR68m from Nyumba Ya Akiba SARL to supply a complete package of equipment and engineering for a greenfield cement plant in the Democratic Republic of Congo. The plant will be located in the province of Bas-Congo, approximately 250km west of the capital Kinshasa. Nyumba Ya Akiba SARL is a joint venture between Pakistani Lucky Cement Ltd and the Rawji Group of the Democratic Republic of Congo. The parties are well established players in the cement industry ... |
Lucky Cement plans Karachi coal-based power plant17 July 2014, Published under Cement NewsLucky Cement plans to invest in a coal-based power plant in Karachi, Pakistan, through its subsidiary Lucky Holdings Limited (LHL). The board is recommending to shareholders the approval of the US$200m investment to be set up by a new entity under the name of Lucky Electric Power Company Ltd, of which Lucky Cement would own a 75 per cent stake through LHL and has agreed to maintain at least a 20 per cent indirect stake to the sixth anniversary of the commercial date of operation. The ... |
Lucky Cement refutes QWP claims, Pakistan14 July 2014, Published under Cement NewsLucky Cement has countered claims by local political party representatives who allege the insufficient provision of royalties and social sector initiatives to the district in which the cement producer operates. Last week, it was reported that Imranullah Begukhel, general secretary for the Qaumi Watan Party (QWP), and representatives for the Begukhel, Samandi and Darra Tang union councils were calling on Lucky Cement to launch schemes which would provide a boost to residents of the Lakki Mar... |