Cement News tagged under: Lucky Cement

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Lucky Cement's profits up 9.3%

02 September 2016, Published under Cement News

As 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...

Lucky Cement announces Karachi plant expansion

29 July 2016, Published under Cement News

Pakistani cement producer Lucky Cement Ltd informed Pakistan Stock Exchange (PSX) that it will be expanding the capacity of its Karachi cement works by 1.25Mta in a US$30m project.  This is in addition to the proposed plant expansion of 2.3Mta at its works in Punjab province. This latest project, when completed, will bring the company's total capacitdy from 7.75Mta to 11.3Mta and help Lucky Cement to meet the growing cement demand in the country. Cement consumption is forecast to rise on ...

Pakistan: Lucky Cement highlights its social impact

18 July 2016, Published under Cement News

The largest Pakistani cement manufacturer, Lucky Cement, has highlighted the contribution its operations have made to their locality and the country’s economy reports the Daily Times. Lucky Cement has pointed out that in 2014-15 it paid the government more than PKR7bn (US$67m) in sales and income taxes and generated PKR14bn (US$134m) in foreign exchange. In addition, the company has undertaken a programme to provide clean water supplies to residents of Pezu, its base of operations, whi...

Pakistan cement industry's US$1bn expansion

03 June 2016, Published under Cement News

The steady growth of Pakistan’s cement industry saw the sector attract investment of US$1bn in the current financial year, an economic survey has revealed. Economic Survey 2015-16, released today by Pakistan’s Ministry of Finance, finds that the cement industry is focussing on capacity expansion in view of ever-growing domestic demand and a focus on exports to African markets. Four companies have already announced further investment plans: Cherat Cement, Attock Cement, DG Khan Cement and ...

New projects push Indonesia towards overcapacity

27 April 2016, Published under Cement News

Indonesia's dynamic market has attracted both foreign and local cement companies to invest in new cement plants, intensifying competition for existing producers and tipping the industry towards oversupply. Four new entrants - including companies from Taiwan, India and two local firms - plan to build new factories in Indonesia with a combined capacity of 12.1Mta, according to a report in the Jakarta Globe. The total investment is estimated at between US$1.3bn and US$3bn over the next few ye...

Lucky Cement to award 660MW power plant contract next month

27 April 2016, Published under Cement News

Lucky Cement is preparing to award a contract to build a 660MW coal-fired electricity generation plant at the country's industrial hub near Karachi. Negotiations with potential EPC (engineering, procurement and construction) contractors have started and the EPC contract will be concluded during the month of May 2016. In March, the Pakistan Power Infrastructure Board issued a licence to Lucky Electric Power Company, a subsidiary of Lucky Cement, to build the coal-fired plant at Deh Ghangar...

Pakistan: Producers to invest up to US$1bn in CAPEX

18 April 2016, Published under Cement News

Cement producers in Pakistan will invest between US$700m and US$1bn in expanding capacity over the next few years, according to Mohammad Ali Tabba, chair of the All Pakistan Cement Manufacturers Association. According to an interview with Mr Tabba in the Nation, four companies have already announced expansion plans: Cherat Cement; Attock Cement; DG Khan Cement; and Lucky Cement. Capacity in 2015-16 stands at 45.6Mta. Despite this investment, Mr Tabba noted that the industry was not rec...

Cement exports on the rise

15 April 2016, Published under Cement News

As global cement capacity continues to rise against a limited demand increase, there is a swell of cement producers chasing ever-smaller export markets across the globe. News this week that Saudi Arabia has lifted its ban on exports will increase pressure on prices in the Middle East region. The Saudi Arabian export ban had been in place since 2012 when it was renewed from an earlier 2008 period of export control. While lifting of the ban provides a good opportunity for Saudi producers to ...

Lucky Cement unit gets licence to generate 660MW coal power

08 March 2016, Published under Cement News

The government of Pakistan has licensed Lucky Electric Power Co, a concern of Lucky Cement, to generate electricity from its 660MW coal-fired plant. “In order to meet the future energy needs of the country and to improve the energy mix, the Pakistan Power Infrastructure Board issued letter of intent to various local and foreign investors/groups, including Lucky Cement Limited for setting up 660MW imported coal-based generation facility at Deh Ghangario, Bin Qasim Town,” according to a docum...

Lucky Cement not to proceed with court challenge

01 February 2016, Published under Cement News

Lucky Cement has decided to drop its South African court challenge regarding the imposition of anti-dumping duties by the International Trade Administration Commission (Itac) on Portland cement imports originating from Pakistan. The company said it had instead decided to put its faith in the Pakistan government's approach to the World Trade Organisation (WTO) to challenge and revoke the anti-dumping duties. Muhammad Faisal, the financial director of Lucky Cement, confirmed to Business Rep...