Cement News tagged under: Pakistan
High interest rates impacting cement companies in Pakistan23 September 2019, Published under Cement NewsPakistani cement industry profitability in FY19 and moving forward is likely to be dented by high interest rates/financing cost as being reported by number of cement companies in country. According to a research report of BMA Research, multiple increases in interest rates in the last 20 months have increased finance costs significantly and cement companies may want to reduce this debt burden. As a result, analysts are of the view that this increased burden coupled with the economic slowdo... |
Maple Leaf Cement profit falls by 60% in FY1920 September 2019, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) of Pakistan announced its financial results for FY18-19 today. It declared earning a net profit of PKR1.465bn (US$9.3m) (unconsolidated) as compared to PKR3.632bn earned in the same period last year. It shows profit dropped by 59.7 per cent, despite on a good development, when the company sales stood at PKR26bn, compared to PKR25.69bn in the same period last year. In a notification to Pakistan Stock Exchange (PSX), MLCF announced a final cash dividend ... |
Askari Cement orders ESP conversions from CTP Team Srl19 September 2019, Published under Cement NewsCTP Team Srl will install new bag filters at Askari Cement Ltd's Nizampur and Wah cement plants, Pakistan. The new bag filters will be constructed from electrostatic precipitator (ESP) conversions and are to be installed on both kiln and raw mills using CTP's SWAP technology. Marco Ernesto Donghi, sales director of CTP Team, and Mustafa Kausar, managing director of Askari Cement Ltd, signed the contract for the order earlier this week. |
Pakistan-Afghanistan Torkham border inauguration to facilitate cement trade18 September 2019, Published under Cement NewsPakistan's Prime Minister, Imran Khan, along with top officials of government of Afghanistan, are expected to inaugurate round-the-clock operation of Torkham border crossing between Afghanistan and Pakistan today, subject to security clearance, etc. This is expected to support higher volumes of imports and exports, including cement, between the two countries. The Pakistan cement industry, particularly factories located in northern area of Pakistan are pinning their hopes that the opening o... |
DG Khan Cement profit falls in FY1917 September 2019, Published under Cement NewsDG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn and finance cost from PKR574m to PKR3.6bn during this period despite increase in sale. The company s... |
Pakistan's domestic dispatches dip 6% July-August 201916 September 2019, Published under Cement NewsPakistan's cement industry saw receding cement demand in the first two months of current FY20 in Pakistan. The All Pakistan Cement Manufacturers Association (APCMA) attributes it to impact of economic contraction among other factors. The industry dispatched 46.88Mt of cement in 2018-19, leaving a surplus of 9.12Mt. The domestic market remained under pressure in the last fiscal year as well absorbing only 40.34Mt, which was almost two per cent less than 2017-18, according to APCMA. The ... |
Lucky Cement updates progress on overseas and local projects16 September 2019, Published under Cement NewsLucky Cement is currently implementing two cement projects: the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place in FY20-21. Similarly, the letter of credit for the power plant in Iraq has been established and s... |
APCMA releases official dispatch data for FY1916 September 2019, Published under Cement NewsPakistan's cement industry saw a growth 2.2 per cent in total dispatches in FY18-19, which reached to 46.88Mt from 45.89Mt during this period, says official data of All Pakistan Cement Manufacturers Association (APCMA). The breakdown shows that out of total dispatches, local dispatches recorded a negative growth of two per cent, but export dispatches expanded by 37.7 per cent. Dispatches from factories located in northern zone of Pakistan contracted during FY18-19. Local dispatches f... |
Cherat Cement becomes sixth-largest producer in Pakistan13 September 2019, Published under Cement NewsCherat Cement Co Ltd (CHCC) has become the sixth-largest cement producer with eight per cent market share in Pakistan following the successful installation and commissioning of Cement Line III at the Lakrai plant, Nowshera district, Khyber Pakhtunkhwa. The new line has a clinker capacity of more than 6700tpd and features a waste heat recovery plant. With this expansion, the company has increased its total cement capacity to more than 4.5Mta. The project was completed well before schedul... |
Pakistan cement industry's future outlook10 September 2019, Published under Cement NewsThe margins of the Pakistani cement industry remain under pressure in FY19 and this trend is likely to continue in FY20 on the back of poor demand, higher coal prices and interest rates, lesser allocation for development projects, and competition in local and overseas markets. Reviewing the industry performance, experts observed in the local media that the industry started making expansion plans soon after the then-government signed CPEC agreements with the Chinese government in anticipa... |