Cement News tagged under: Lucky Cement

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Pakistan: Lucky plans 660MW power project

29 September 2014, Published under Cement News

Directors 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 project

17 September 2014, Published under Cement News

Lucky 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 pricing

03 September 2014, Published under Cement News

Pakistan’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 project

21 August 2014, Published under Cement News

FLSmidth 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 plant

17 July 2014, Published under Cement News

Lucky 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, Pakistan

14 July 2014, Published under Cement News

Lucky 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...

Lucky Cement 9MFY13-14 profit rises

25 April 2014, Published under Cement News

Pakistan’s leading cement producer Lucky Cement reported a profit after tax for nine months of PKR8.185bn (US$83m), up 17.2 per cent YoY. Earnings per share (EPS) for the period increased to PKR25.31 against an EPS of PKR21.59 of corresponding period last year. Local sales volumes during the period registered a growth of 7.7 per cent to 2.9Mt compared to 2.7Mt in FY12-13. Exports increased 11.8 per cent YoY to 1.9Mt. The company has recently started production at its joint venture g...

Lucky Cement begins production at Iraq works

04 April 2014, Published under Cement News

Pakistan producer Lucky Cement has started production at its 0.87Mta joint venture grinding plant in Basra, Iraq. Lucky Cement CEO, Muhammad Ali Tabba, told local press that production started in February. Mr Ali Tabba explained to Dawn News that the grinding plant is the first phase of development and "if we succeed in our projections, we may go for a full cement production line of 1.25Mt, which may cost around US$125m.” The US$40m project is a 50:50 investment with the Al-Shawy family of ...

Lucky Cement 1HFY14 net profit rises 20%

27 February 2014, Published under Cement News

Pakistan market leader Lucky Cement reported a 20 per cent rise in net profit for the first half of FY14 boosted by in part by higher prices. Net profit for the six months to the end of December 2013 stood at PKR5.16bn (US$49.2m) compared to PKR4.49bn in the same period of the year before. Revenue improved 11.8 per cent YoY to PKR19.57bn against PKR17.51bn in the 1HFY13. Commenting on the results, Global Research said revenues grew on the back of a 10 per cent YoY increase in domestic c...

Pakistan to report fall in dispatches in 1M14

03 February 2014, Published under Cement News

The Pakistan cement industry is likely to post a MoM drop of 13 per cent of total dispatches in January 2014 as winter affected both domestic and export shipments, which were down by 13 per cent and 12 per cent, respectively. But 7MFY14 (Jul-Jan) total dispatches minutely improved by 0.4 per cent to 18.68Mt. According to estimates of leading brokerage houses, cement units located in the north dispatched 1.95Mt and 611,000t in the south during January 2014 (total 2.56Mt) compared to 2.37M...