Cement News tagged under: Pakistan
Pakistan cement industry's exports fall in 7MFY22-2321 February 2023, Published under Cement NewsPakistan’s cement industry saw a negative export revenue trend on overseas dispatches in the 7MFY22-23 (July-January 2023), according to the country’s Federal Bureau of Statistics (FBS). During the 7MFY22-23, the cement industry earned US$100.63m by exporting 2.061Mt of cement and clinker, compared with US$160.92m from 4.315Mt exports in the 7MFY21-22. As a result, exports plummeted by 37.5 per cent in value, and volumes were down by 52.2 per cent. In local currency terms, export sales rece... |
Bestway Cement completes Punjab brownfield line20 February 2023, Published under Cement NewsGeneral Counsel and Company Secretary of Bestway Cement Ltd (BWCL), Hassan Niazi, informed Pakistan Stock Exchange (PSX) that the company has completed the construction and installation of a brownfield line at its Hattar plant in Punjab. The bourse filling adds that Hattat Line-II has a clinker capacity of 7200tpd and the new production line commenced cement production on 17 February 2023. A last-quarter report adds that the work on the company’s greenfield cement plant of 7200... |
Domestic dispatches rise and exports fall in January06 February 2023, Published under Cement NewsPakistan's total cement industry dispatches increased by 1.2 per cent in January 2023 to 4.01Mt from 3.96Mt dispatched during the same month of last fiscal year. Local cement dispatches advanced by 5.2 per cent YoY to 3.587Mt in January 2023 from 3.409Mt in January 2022. However, exports dispatches declined by 24.1 per cent as volumes fell from 551,006t in January 2022 to 418,067t in January 2023, says the All Pakistan Cement Manufacturers Association (APCMA). Moving forward, the manage... |
Lucky Cement increases profit by 23% in 1HFY21-2231 January 2023, Published under Cement NewsPakistan cement producer Lucky Cement Ltd has announced its financial results for the half-year ending 31 December 2022. It reported a profit after tax of PKR7.128bn (US$27.4m) compared to PKR5.744 earned in the corresponding period last year, a growth of 23 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), Lucky Cement’s sales increased by 21 per cent to PKR45.333bn from PKR37.549bn during the same period last year. It incurred adistributio... |
Power Cement to use local Thar coal26 January 2023, Published under Cement NewsSindh Engro Coal Mining Co(SECMC) and Power Cement have signed a memorandum of understanding (MoU) for a trial run of Thar coal for cement production in Power Cement's plant at Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh, Pakistan. The MoU was signed by Sindh Engro Coal Mining Co CEO, Amir Iqbal, and Power Cement CEO, Kashif Habib. Power Cement's Chief Operating Officer, Ahsan Anis, Director Export Marketing, Saifuddin Khan, and DGM International Trade, Badar Bin An... |
Cement exports nosedive in 1HFY22-23 in Pakistan24 January 2023, Published under Cement NewsPakistan’s cement industry export revenue and overseas dispatches in the first six months of FY22-23 (July-December 2022) nosedived both YoY and MoM, according to the country’s Federal Bureau of Statistics (FBS). Industry experts blamed the country's political and economic uncertainty, and slowed world economy. In addition, export markets are drying up and domestic demand is weak as construction costs have become prohibitively high for most materials. During the 6MFY22-23, the cemen... |
Pakistan exports to the USA for the first time20 January 2023, Published under Cement NewsPakistan’s DG Khan Cement Co (DGKCC) has announced that it will export 600,000t of low-alkali cement to the USA each year. This marks the first time Pakistan has exported cement to the USA, according to Farid Fazal, executive director, DGKCC. The first consignment of 50,000t was dispatched in June 2022, with a second shipment of 37,500t leaving for Houston this month. The third delivery will leave for the US in February this year. Pakistan has become one of 25 countries exporting cemen... |
Steel shortage may impact the cement industry19 January 2023, Published under Cement NewsThe Pakistan Ship Breakers Association (PSBA) said on 18 January that the shipbreaking industry is on the verge of closure as local banks are reluctant to open letters of credit to import vessels for breaking up (recycling) and as a result, producing raw material for the steel industry. This is expected to lead to an acute shortage of construction steel bars in the country. Therefore , there could be a drastic escalation in construction steel prices and it is anticipated that consum... |
State Bank of Pakistan reviews cement industry performance in FY2210 January 2023, Published under Cement NewsThe State Bank of Pakistan (SBP) has critically analysed the performance of the cement industry between July 2021 and June 2022. The central bank gauged the positive and negative impacts on local and export dispatches, employment, quarrying of minerals and the reason behind on slow progress of the industry. The SBP concluded that "marginal growth in local dispatches and declining exports hurt the cement industry in FY21-22". The cement sector’s output declined by 3.6 per cent (48.011Mt) i... |
Pakistan records a 21% decline in cement dispatches in 1HFY22-2306 January 2023, Published under Cement NewsThe negative trend in cement dispatches in Pakistan has continued in the last few months. The latest data for 1HFY22-23 and December 2022 show the sector has been affected by a slowdown in the local construction industry and unviable exports. Pakistan’s total cement deliveries (domestic and exports) were 21.764Mt during 1HFY22-23, which is 20.7 per cent lower than 27.456Mt dispatched during 1HFY21-22. Out of this total, domestic volumes were 20.03Mt against 24.065Mt during the same period la... |