Cement News tagged under: Pakistan
Lucky boosted by higher volumes and pricing03 September 2014, Published under Cement NewsPakistan’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... |
Work begins on Pakistan bulk terminal project02 September 2014, Published under Cement NewsWork has begun on the Pakistan International Bulk Terminal project at Port Qasim, the country’s first terminal for handling coal, clinker and cement. The state-of-the-art multi-purpose cargo handling facility will be built on a build operate and transfer basis. Estimated to cost US$250m, it will be able to handle 4Mta of cement and clinker as well as 12Mta of coal. It is expected to be operational by 2016. Port Qasim is located 50km from Karachi, on the coast line of the Arabian Sea. The n... |
Pakistan's export earnings down by one-third29 August 2014, Published under Cement NewsDuring the first month of the new Pakistan fiscal, cement exports declined by 30.31 per cent YoY to 557,159t, with shipments to Afghanistan falling significantly. In revenue terms, exports were down by 33.68 per cent to US$32.59m during the same month, according to the latest data from Pakistan’s Bureau of Statistics. Exports earnings also declined in Pakistan rupee terms by 33.55 per cent to PKR3.216bn during July 2014, Similarly, the average export price of cement dropped 4.84 per cent t... |
South Africa to probe dumping allegations27 August 2014, Published under Cement NewsThe International Trade Administration Commission (Itac) is investigating claims that cement from Pakistan is allegedly being dumped in the Southern African Customs Union (Sacu). South Africa-based producers AfriSam, Lafarge, NPC Cimpor and PPC allege that bagged cement from Pakistan was being dumped at a price 48 per cent lower than the normal value in Pakistan. According to statistics by the XA International Trade Advisors, annual imports from Pakistan rose from 362,350t in 2011 to... |
FLSmidth wins DR Congo plant project21 August 2014, Published under Cement NewsFLSmidth 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 ... |
Fauji Cement full-year net profit rises 27% YoY21 August 2014, Published under Cement NewsPakistan-based producer Fauji Cement reported a net profit of PKR2.39bn (US$23.7m) for the fiscal ending 30 June 2014, up 27 per cent YoY compared to PKR1.88bn in the year before. An increase in cement prices and lower financial charges contributed to the Fauji Cement’s earnings, a report by Global Research said. During the fourth quarter, earnings declined 46 per cent QoQ to PKR403m due to a higher effective tax rate of 54 per cent (versus 40 per cent during 3QFY13) and a preferred di... |
Pakistan sales decline in first month of new fiscal12 August 2014, Published under Cement NewsPakistan cement dispatches during the first month of the new fiscal (FY14-15) proved disappointing with both domestic and export sales registering YoY declines. Total sales during July 2014 fell 14.12 per cent to 2.23Mt compared to 2.6Mt, latest data from the Pakistan Cement Manufacturers Association (APCMA) shows. Domestic dispatches during July 2014 were down by 6.5 per cent YoY to 1.73Mt. Meanwhile, exports were 503,000t versus 749,000t during July 2013, representing a YoY decline o... |
Changes needed to Pakistan cement tariffs and tax11 August 2014, Published under Cement NewsWith domestic cement dispatches dipping in July to 1.73Mt compared with 1.85Mt during same month last year, Pakistan producers witnessed a decline of 6.52 per cent. Furthermore, exports last month were 503,000t against 749,000t during July 2013, a reduction of 32.89 per cent. Total dispatches during July were only 2.23Mt compared to 2.6Mt during same month last year, a decline 14.12 per cent. Now the Pakistan Cement Manufacturers Association (APCMA) is requesting the government to consider c... |
Cherat Cement to increase capacity, Pakistan01 August 2014, Published under Cement NewsCherat Cement plans to invest PKR12bn (US$121.5m) in expanding capacity at its Pakhtunkhwa works, according to a company official. The company will be investing in a new 1.3Mta line, said Abid A Vazir, executive director of Cherat Cement. The decision to raise capacity is due to an expected rise in domestic consumption. The move will effectively double Cherat's capacity which currently stands at 1.1Mta. The term-loan for the project has been arranged. The project has reportedly been awa... |
Holiday slowdown affects Pakistan & Bangladesh31 July 2014, Published under Cement NewsImports and exports of cement and raw materials through some of Pakistan and Bangladesh’s key ports have been disrupted since 25 July 2014 due to the Eid ul-Fitr festival and seasonal holidays. Both governments have officially declared 4-5 days holiday for the Eid festivities but offline periods have been stretched due to weekly holidays as well. Pakistan The partial suspension of loading operations at Karachi Port and Port Qasim have affected the export of about 55,000t of cement fr... |