Cement News tagged under: Pakistan
Pakistan installs captive solar power24 December 2019, Published under Cement NewsFauji Cement Co Ltd (FCCL), Pakistan, recently installed a 12.5MW captive solar power project at its Attock plant. Plant located at Distt Attock, Pakistan. The project, which was successfully commissioned in May 2019, is the largest captive solar power project in Pakistan’s industrial sector and makes FCCL leader in renewable energy in the country’s cement sector. Completed in four months, the captive solar power plant saw the erection of over 38,000 Tier 1 solar panels over a 50-acr... |
Thatta Cement Co appoints Muhammad Aslam Shaikh CEO24 December 2019, Published under Cement NewsPakistani-based Thatta Cement Co Ltd (THCCL) has informed Pakistan Stock Exchange (PSX) that Muhammad Aslam Shaikh is the company’s new CEO with effect from 23 December 2019, replacing Muhammad Taha Hamdani. THCCL has a production capacity of 488,250tpa at its cement plant in Thatta, Sind Province. |
Maple Leaf Cement to elect new directors24 December 2019, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) will elect new directors for a three-year term at its Extraordinary General Meeting on 31 December 2019 in Lahore, Pakistan. Eight people have filed with the company as candidates for the directorships. They have been named as Tariq Sayeed Saigol, Taufique Sayeed Saigol, Waleed Tariq Saigol, Danial Taufique Saigol, Jahanara Saigol, Syed Mohsin Raza Naqvi, Shafiq Ahmed Khan and Zulfikar Monnoo. |
Increase in gas price may impact Pakistan cement industry23 December 2019, Published under Cement NewsPakistan's government intends to increase gas prices effective from 1 January 2020 for all types of commercial consumers, including the cement industry. A research house anticipates a large gas price increase, which could eat into the margins for a range of sectors such as cement, chemicals, fertiliser and textiles. The proposed prices hike will be considered by the petroleum division, which will then forward their proposal to the Economic Coordination Committee (ECC), Government of Paki... |
Dandot Cement continues to posts losses20 December 2019, Published under Cement NewsDandot Cement Company Ltd (DNCC) of Pakistan has announced its financial results for the first quarter ended September 2019, yesterday. It incurred a net loss of PKR220m (US$1.42m) as compared to loss of PKR49.4m reported in the same quarter last year. The major factor responsible for this declining trend in company’s profit, was a 63.7 per cent fall in sales to PKR144m from PKR397m in the same period last year. The company incurred a higher distribution cost and lesser administrative ex... |
Pakistan continues to earns mixed revenue in 5MFY2019 December 2019, Published under Cement NewsPakistan's cement industry earned foreign exchange revenue of US$124.2m by exporting 3.246Mt of cement and clinker between July and November 2019, compared to US$131.11m from exporting 3.046Mt of cement and clinker in same months last year, says the country's Federal Bureau of Statistics. This translates a YoY fall of 5.3 per cent in terms of dollar value but a growth of 6.6 per cent in terms of quantity in first five months of current financial year. However, in local currency terms, the e... |
Increased FDI inflows in Pakistan yet to positively impact cement19 December 2019, Published under Cement NewsAccording to data of the State Bank of Pakistan, Pakistan has received a net total foreign direct investment (FDI) of US$850.01m during first five months of current financial year (July and November 2019), compared to US$477.3m received in same months of the previous year. This represents an increase of 78 per cent YoY, mainly due to a high inflow from Norway and China between July and November 2019. However, this increasing trend in FDI was poorly reflected in the investment in the country... |
Fauji Cement to diversify17 December 2019, Published under Cement NewsFauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange that the 135th Special Board Meeting of the company held at the Fauji Foundation's head office in Rawalpindi on 13 December 2019 decided to pool resources and diversify investment. The Board of Directors have discussed and resolved that in the interest of the company an Extra Ordinary General Meeting be convened soon to consider and approve the resource sharing arrangement to be entered into with Askari Cement Ltd (an Ass... |
Pakistan's government allocates more funds for development17 December 2019, Published under Cement NewsThe cement industry in Pakistan has welcomed the federal government decision to release PKR298bn (42.5 per cent), including PKR61.75bn (US$1.29bn) of foreign aid (48.13 per cent) for various ongoing and new development projects under the Public Sector Development Programme (PSDP) 2019-20 against the total budgeted allocation of PKR701bn. This positive news has pushed up the prices of cement scripts in Karachi Stock Exchange on 16 December in the short term and is expected to create demand ... |
Punjab to ease issuance of NoC for cement plant in province16 December 2019, Published under Cement NewsPakistan's cement industry welcomes the provincial government of Punjab's move to ease the processes of approval in setting up a cement plant in province. According to media reports, Provincial Minister for Industries and Trade, Mian Aslam Iqbal, has said that the Punjab government has lifted the 12-year ban on the cement industry, which is expected to see an improved performance and contribition to the national economy. A dedicated task force with key people in the ministry's industries ... |