Cement News tagged under: Pakistan
Pakistan: cement exports fall YoY but are up MoM01 April 2016, Published under Cement NewsPakistan’s cement industry recorded a noticeable fall in exports during the first eight months of the FY15-16 on the back of falling demand, competition and other issues. The data released by the Pakistan Bureau of Statistics (PBS) revealed that Pakistan exported 4.01Mt of cement and earned export revenue of US$219.67m during July-Feb 2016, down by 27.9 per cent and 32.2 per cent in terms of quantity and value in dollars, respectively. Last year export volumes reached 5.57Mt, with a value ... |
Iran offers export of cement to Pakistan under barter31 March 2016, Published under Cement NewsIran has reportedly offered to export cement on barter basis following a trade mission to Pakistan, led by the country's president, Hassan Rouhani. Pakistan's Ministry of Commerce on its part is exploring various avenues to enhance bilateral trade to US$5bn in five years, in accordance with the vision of the top political leadership of the two countries. Separately, Khouzestan Morteza Lotfi, managing director of Fars Cement Holding Company, Iran, told media that his country has agreed to e... |
Pakistan: new trade policy carries incentive for cement export21 March 2016, Published under Cement NewsPakistan’s government plans to increase country cement exports and other commodities, in particular though the Strategic Trade Policy Framework (STPF) 2015-18. The government will provide PKR20bn (US$190m) for the implementation of the policy for the next three years. For this fiscal year, PKR6bn has already been earmarked. The government is likely to provide freight subsidies on cement exports to Africa. Measures will be taken to increase the share in other potential markets such as ... |
Pakistan: APCMA calls for federal exise duty reduction17 March 2016, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA), in its budget proposal, has recommended a reduction in federal excise duty (FED) to be stepped to zero to alleviate the cost pressure on locally-manufactured cement, which is facing competition from Iranian imports. The Daily Times reports that in the budget proposal sent to Federal Board of Revenue (FBR), APCMA Chairman Muhammad Ali Tabba stated that the cement industry is subject to FED at the rate of five per cent of retail price... |
DG Khan: southern expansion progressing well15 March 2016, Published under Cement NewsPakistan producer DG Khan Cement has reported that its southern expansion project is progressing well and is scheduled for commissioning in 2QFY18. The 2.7Mta plant, which will involve an investment of US$275m, is being established in the Balochistan province of Pakistan. According to the company's half-year results, a letter of credit for the mills and and packing plant has been opened in favour of Loesche GmbH and Haver & Boecker of Germany. Civil work contracts for the project have be... |
Pakistan seven-month cement exports volumes and revenues decline14 March 2016, Published under Cement NewsPakistan cement export volumes reached 393,391t on revenues of US$21.1m in January 2016, down 9.52 and 7.8 per cent, respectively compared to the previous month. On an annual comparative basis, the there was a 15.28 per cent decline in volume terms and a 19.14 per cent fall in revenue. During the first seven months of the current fiscal, cumulative exports reached 3.496Mt (US$191.55m) versus 5.045Mt at US$294.71m. This also translates to a YoY fall of 30.69 and 35 per cent in terms of qua... |
Lucky Cement unit gets licence to generate 660MW coal power08 March 2016, Published under Cement NewsThe 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... |
Pakistan 8MFY16 dispatches rise on higher domestic demand07 March 2016, Published under Cement NewsPakistan cement dispatches rose 17.49 per cent to 20.89Mt during the first eight months (July-February) of 2015-16 from 17.78Mt in the same period last year. However, exports declined by 24 per cent to 3.8Mt from 5Mt in July-February 2014-15. Total dispatches during the period increased to 24.76Mt from 22.78Mt a year ago, an increase of 8.69 per cent. In February 2016 local sales rose 30 per cent while exports, for the first time since December 2014, showed a slight increase of 1.47 ... |
Pakistan: Pioneer Cement reports earnings of PKR988m in 1HFY1625 February 2016, Published under Cement NewsPioneer Cement Ltd reported first-half earnings of PKR988m (US$9.45m) versus PKR1.292bn a year earlier, translating into a decline of 24 per cent. In a communication to the Pakistan Stock Exchange, the company said turnover rose from PKR3.9bn to PKR4.37bn over the half-year period. Distribution costs climbed to PKR28.15m from PKR25.96m in 1HFY14-15 but financing costs fell to PKR12.74m from PKR33.68m in the comparative period of the previous year. Revenues rose by 11.4 per cent YoY. Pionee... |
Pakistan: Maple Leaf secures funding for power plant23 February 2016, Published under Cement NewsA consortium of Pakistan banks has opened a letter of credit to Maple Leaf Cement Ltd's (MLCF) via its wholly-owned subsidiary Maple Leaf Power Ltd amounting to US$27.20m for the import of a complete 40MW coal-fired power plant. The consortium consists of the Bank of Punjab, National Bank of Pakistan and MCB Bank Ltd. Maple Leaf Power has signed an agreement with Sinoma Energy Conservation Ltd (China) to set up the coal-fired power plant at MLCF's cement plant site in Iskandarabad, Mia... |