Cement News tagged under: Lucky Cement

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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.

Lucky Cement nine-month net profit rise, Pakistan

30 April 2012, Published under Cement News

Lucky Cement has reported net profit of PKR4.68bn (US$51.5m) for the nine-month period ending 31 March 2012, representing an 89 per cent rise compared to the PKR2.47bn earned in the corresponding period last year. Earnings per share during the nine month period were PKR14.49 against PKR7.65 last year. Net revenue rose 29% to PKR 24bn primarily due to higher factory prices and a two per cent rise in sales. Distribution expenses remained flat and a 29 per cent decline in financial expens...

Lucky Cement to construct Iraq grinding plant

27 April 2012, Published under Cement News

Pakistan’s Lucky Cement is to construct a 0.87Mt grinding plant in Iraq through a joint venture, according to reports by the Associated Press of Pakistan. The company is to invest US$15m in the cement plant which is estimated to cost US$30m. The technical and financial evaluation of the proposed project has already been carried out by the team of experts. Similarly, the board also decided to invest in the equity of its newly incorporated associated company Yunus Energy Ltd, a 50MW wind fa...

Lucky Cement inks power supply agreement, Pakistan

22 March 2012, Published under Cement News

Lucky Cement plans to sell additional electricity to the Peshawar Electricity Supply Company through its plant in Darra Pezu, Pakistan. The daily Business Recorder reported that Lucky Cement is holding meetings with Pesco to sell 15-20MW of electricity to overcome prevailing power shortages in the district of Lakki Marwat and Dera Ismail Khan and the adjacent areas of Lucky Cement’s plant. Lucky Cement has its own power generation units at both its production faclities in Karachi and D...

Lucky Cement first-half boosted by higher prices, Pakistan

31 January 2012, Published under Cement News

Pakistan’s Lucky Cement reported a net profit of PKR3.02bn (US$33.4m)  in the 1HFY12, which is 107 per cent higher than the same period of last by a rise in demand and prices. The company's gross profit increased by 46.55 per cent during the half year as its net sales revenue improved by 27.82 per cent to PKR15.37bn against PKR12.03bn of last year. During the July-November period, prices were 17.3 per cent higher YoY due to a reduction in cement takes and just a 10.8 per cent rise in c...