Cement News tagged under: Pakistan

RSS feed

FDI falls QoQ in Bangladesh

23 January 2020, Published under Cement News

Bangladesh received gross foreign direct investment (FDI) of US$716.48m during the 3Q19 for the cement, textile, power, telecommunication, banking, foods, construction, trading, gas and petroleum, leather, chemicals, fertiliser, IT industry and other sectors, according to data released by Central Bank of Bangladesh. The country had received US$973.28m in previous quarter of April-June 2019 period and US$1.331bn in January-March 2019 period. This amounts to US$3.021bn between January-Septe...

Attock Cement reports 41% growth in profit during 1HY19-20

23 January 2020, Published under Cement News

On 21 January 2020, Attock Cement Pakistan Ltd (ACPL) announced its 1HFY19-20 financial results (for the period ended 31 December 2019). According to a notification by Attock Cement to the Pakistan Stock Exchange (PSX), the company's consolidated profits after tax increased to PKR1.15bn (US$7.44m) during this period, from PKR816m earned in corresponding period of FY18. This translates an increase of 41.3 per cent on YoY basis, which was possible due to a sales increase to PKR12.45bn from P...

Dewan Cement of Pakistan to elect seven directors

22 January 2020, Published under Cement News

Dewan Cement Ltd (DCL) has informed Pakistan Stock Exchange (PSX) on 20 January about the election of seven directors of the company for a three-year period.   Company Secretary, Mohammad Hanif German, stated in a notification to PSX that the election will be carried out in the forthcoming Extra Ordinary General Meeting of the company, scheduled to be held on 27 January 2020.   The new directors are expected to be Haroon Iqbal, Syed Muhammad Anwar, Waseem-ul-Haque Ansari, Ishtiaq Ahmed, Muh...

Pakistan's cement production improves in 5MFY19-20

21 January 2020, Published under Cement News

The Pakistan Federal Bureau of Statistics (PBS) has released the production data of the country's top industries for the first five months of the current financial year. The lacklustre performance in the industrial sector reflects overall economic slowdown in the ongoing fiscal year. The State Bank of Pakistan estimates the economy to grow by 3.5 per cent in 2019-20.   The latest data for large-scale manufacturing industries (LSMI) for the July-November 2019 period posts that the overall out...

Pakistan dispatches higher volume but earned lesser in 1HFY20 

20 January 2020, Published under Cement News

Pakistan cement industry's increased its overseas dispatches but saw value contract in 1HFY19-20. Therefore, the industry's foreign exchange revenues fell by US$11.74m in the first six months when compared with the previous-year's first half. The country's cement sector received US$145.26m by exporting 3.766Mt of cement and clinker between July and December 2019, compared to US$157m from exporting 3.671Mt of cement and clinker in same months in the previous year, according to the country'...

FDI into Pakistani cement and construction falls

17 January 2020, Published under Cement News

Pakistan has received a net total foreign direct investment (FDI) of US$1.34bn during first six months of July and December of FY19-20 compared to US$796.8m received in same months of the previous year. This represents an increase of 68 per cent YoY, mainly due to a high inflow from Norway, China, Japan, Malta, USA and other countries between July and December 2019, according to data of the State Bank of Pakistan.   However, this increasing trend of FDI was not reflected in the country's con...

Pioneer Cement's new kiln line starts production

16 January 2020, Published under Cement News

Pioneer Cement Ltd (PIOC) has informed Pakistan Stock Exchange (PSX) that the company successfully ignited its new 10,000tpd kiln line. Company Secretary, Abdul Wahab, said cement production and dispatch from the new line is expected to start soon.    The 2.2Mta brownfield expansion is part of the company's Vision 2025 programme, which includes a 24MW coal-fired power plant and 12MW waste heat recovery power plant at Khushab, Punjab. Before this expansion, the company had 2.03Mta of cement ...

Zeal Pak Cement of Pakistan struggles to survive

15 January 2020, Published under Cement News

Pakistan oldest cement factory, Zeal Pak Cement Ltd, has informed Pakistan Stock Exchange (PSX) last week about management efforts to make it a viable plant. To date it has been running losses due to number of factors, including the old technology. According to Masood ul Hassan, group general manager of the company, said the management is running the factory at a continuous loss and only for its survival to provide employment. The company is facing a huge financial crisis.  Established i...

Pooling of resources between Fauji Cement and Askari Cement

13 January 2020, Published under Cement News

Fauji Cement Company Ltd has informed Pakistan Stock Exchange (PSX) that its 11th Extraordinary General Meeting (EGM) was held on 10 January 2020 and two important resolutions were adopted by the shareholders for sharing resources amongst two cement units.   The first resolution for approval and authorisation was the resource sharing arrangement to be entered into with Askari Cement Ltd (ACL).   The second resolution approved an equity investment of up to PKR200m (US$1.29m) in the associate...

Punjab easing NOC issue for new cement plants

13 January 2020, Published under Cement News

The government of Punjab, Pakistan, is encouraging further investment as timely issuance of no objection certificates (NOCs) and other facilities are being extended to cement industry investors, reports The Balochistan Times. All relevant departments, including irrigation, environment, industries and local government, have adopted a unified strategy to remove unnecessary hurdles in the building of new cement plants, according to the Pakistani newspaper. Moreover, space has been identified ...