Cement News tagged under: Pakistan
Pakistan: Kohat Cement earnings up 4% YoY23 February 2017, Published under Cement NewsKohat Cement reported earnings of PKR2.2bn (US$20.98m) in 1HFY17 compared to PKR2.1bn reported in the same period last year, up four per cent YoY. The result accompanied a second interim cash dividend of PKR8/share, taking cumulative 1HFY17 payout to PKR12/share. The company's total sale of cement stood at 1.06Mt compared to 1.03Mt in the first six months of the last financial year. Kohat's domestic sales of cement reached 988,159t and exports amounted to 81,271t during this period. ... |
Pakistan: Bestway Cement to acquire Dewan Cement22 February 2017, Published under Cement NewsDewan Cement Ltd and Bestway Cement Ltd have both separately informed the Pakistan Stock Exchange (PSX) that they are signing a memorandum of understanding (MoU), wherein Bestway will acquire Dewan Cement, subject to approval by concerned authorities. Previously, three local cement companies and a Chinese company expressed their intention to acquire stakes in Dewan Cement. The Bestway Cement Ltd notification to PSX says that it has entered into a non-binding MoU with Dewan Cement Ltd ... |
Lucky Cement: Karachi expansion scheduled for end-201722 February 2017, Published under Cement NewsLucky Cement Ltd is currently undergoing a series of investments in capex projects. Its 1.25Mta Karachi plant expansion poject is scheduled to be operational by the end of 2017, while the company is still in the process of seeking approvals and necessary authorisations for a 2.3Mta greenfield integrated cement plant in Punjab province. Company officials hope that construction at the Punjab site will start by the end of June 2017. In addition, the 10MW waste heat and recovery (WHR) syste... |
Pakistan: Gharibwal Cement's energy-generating conveyor is operational21 February 2017, Published under Cement NewsGharibwal Cement Ltd informed Pakistan Stock Exchange (PSX) that its downhill conveyor belt project has now started commercial operations. The 3.15km-long conveyor belt can transport 1200tph raw material (crushed limestone, clay, silica, etc) from quarry to the pre-blending yard. said Company Secretary, Muhammad Shamail Javed. It is claimed that this conveyor belt is first of its kind in Pakistan because in addition to transporting the raw material, it also generates electricity up to... |
Mixed 1HFY17 results for Pakistani cement producers16 February 2017, Published under Cement NewsThe latest series of business results of Pakistani cement producers show a mixed performance during the first half of the 2017 financial year. DG Khan Cement Company DG Khan Cement Company Ltd (DGKC) has announced its 1HFY17 financial result. It reported a profit after tax (PAT) of PKR4.506bn (US$42.9m) during 1HFY17 against a PAT of PKR4.080bn during 1HFY16, up 10 per cent, YoY. In line with trends, DGKC did not declare any dividend along with its 1HFY17 results. The company's... |
The world in 2016 and outlook for 201710 February 2017, Published under Cement NewsThis year will be a challenging year for the multinational cement companies, which are now faced by uneven economic performance in the emerging markets, combined with a new era of global political uncertainty that could further destabilise markets. On balance, however, global growth looks set to be anchored by positive trends in the major markets of China, India and the US, more than offsetting the poor performance elsewhere. The large cement majors have spent years diversifying their por... |
Pakistan: Cherat Cement profit rises by 52%09 February 2017, Published under Cement NewsPakistan cement producer, Cherat Cement, has announced its 1HFY17 (July-December 2016) financial result. It reported a profit after tax (PAT) of PKR1025m (US$9.75m) during 1HFY17 against a PAT of PKR676m during 1HFY16, up 52 per cent YoY. According to a research report by Al Habib Capital Market, during 1HFY17, Cherat Cement reported a 17 per cent YoY growth in its top‐line attributable to rising dispatches, which were up 21 per cent YoY. The rise in dispatched stemmed from increased dome... |
Pakistan: Pioneer Cement inks agreements with Sinoma-Chengdu09 February 2017, Published under Cement NewsPioneer Cement Ltd (PIOC) informed Pakistan Stock Exchange (PSX) that it has signed a contract with Sinoma-Chengdu of China for procurement of its new cement works, a 12MW waste heat recovery power unit and a 24MW coal-fired power plant. PIOC has cement production capacity of over 2Mta but has operated at a meager 60 per cent utilisation level (FY12-FY16), despite local industry demand witnessing robust growth, says a local research house. This has been a result of lower crushing capacit... |
Pakistan: exports to Afghanistan decline07 February 2017, Published under Cement NewsAPCMA data revealed that domestic dispatches in January 2017 were 2.722Mt, while exports amounted to 0.376Mt, reflecting YoY growth of 0.78 and -2.71 per cent, respectively. Total cement dispatches in January 2017 amounted to 3.087Mt. According to data released by the APCMA, during the first seven months of current fiscal year, the cement industry posted a growth of 9.52 per cent in local dispatches compared with the same period of last fiscal year. Export dispatches in the same pe... |
Pakistan: US$400m British investment in new plant06 February 2017, Published under Cement NewsBritish company Asian Precious Minerals (APML) announced plans to invest US$400m in a new cement plant in Khyber Pakhtunkhwa, Pakistan. The announcement was made during a meeting between APML and the Chief Minister of Khyber Pakhtunkhwa, Pervez Khattak. The Chief Minister explained the province’s new industrial policy under which the government offered several incentives to local and foreign investors. He said investors could benefit from a transparent one-window operation for establishin... |