Cement News tagged under: Pakistan
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... |
Bestway consolidated turnover up 45.5%22 February 2016, Published under Cement NewsBestway Cement Ltd (BCL) said that its consolidated net turnover for the first half of FY15-16 soared by 45.5 per cent YoY to PKR21.1bn, largely due to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices. The company's gross margin of PKR8.9bn rose by more than 61.9 per cent over the same period last year. Profit before tax for the period amounted to PKR7.6bn, representing a YoY increase of 37 per cent. Consolidated profit after tax also climbed 47 pe... |
K-Electric signs additional supply agreement with Attock Cement18 February 2016, Published under Cement NewsKarachi-based electric supplier K-Electric has signed an accord to provide an additional 16MW of electricity to Pakistan producer Attock Cement Ltd. Present at the signing ceremony were Irfan Amanullah, company secretary of Attock Cement, and Asif Saad, K-Electric’s chief operating officer of Distribution, among others. Speaking at the ceremony, Mr Saad said: “This initiative would not only serve the purpose of provision of additional MW [mega watts], this would pave the way in years ... |
Pakistan: Fauji Cement sees 66% rise in 1HFY16 net profit16 February 2016, Published under Cement NewsFauji Cement Co (FCCL) has a reported a profit after tax of PKR2.77bn (US$264m) during 1HFY16 versus PKR1.668bn during the same period last year, up 66 per cent YoY. During the first half dispatches increased by seven per cent YoY, stemming from rising domestic dispatches – up 13 per cent YoY, due to an acceleration in private sector construction activities and the materialisation of the government's budgeted Public Sector Development Programme (PSDP). However, exports were down 21 per cen... |
Pakistan: Cherat Cement 1HFY16 profit rises 6%12 February 2016, Published under Cement NewsPakistan producer Cherat Cement Co reported a profit after tax of PKR676.2m (US$6.48m) in the first half of FY16 versus PKR639.8m a year earlier, which translates to a six per cent YoY rise. The company reported stable dispatches (+1 per cent) stemming from rising domestic sales which were up by 13 per cent YoY. The advance in local dispatches was attributed to an acceleration in private sector construction activity and the partial materialisation of the projects under the government's bu... |
Attock Cement first-half profits up by 12.5% YoY11 February 2016, Published under Cement NewsPakistan-based Attock Cement earned a 12.5 per cent rise in profit after tax of PKR1152m (US$11m) in the first half of 2016 compared to PKR1024m reported in the comparative period of the previous year. Net sales were virtually flat at PKR6396m against PKR6368m a year earlier. Distribution costs fell to PKR2241m from PKR4371m. In the 2Q16 alone, Attock reported earnings of PKR671m as compared to PKR481m in the preceding quarter, representing a growth of 40 per cent QoQ. The company... |
Pakistan: cement export volumes down by almost one-third in 6MFY15-1609 February 2016, Published under Cement NewsPakistan recorded a marked fall in exports over the first six months of the current fiscal, largely on the back of weaker demand and increased competition. Export revenues were down by 36.54 per cent YoY during the July-December period (ie, 6MFY15-16) to US$170.46m, according to data from Pakistan Bureau of Statistics. Export volumes fell by 32.79 per cent YoY to 3.079Mt. In December 2015 alone, Pakistan exported 434,781t on revenues of US$22.89m compared to 569,620t at US$30.12m in No... |