Cement News tagged under: Pakistan

RSS feed

Power Cement awards contract to GE

30 April 2018, Published under Cement News

Pakistan’s Power Cement has awarded the contract for the design, manufacture and supply of a 132/6.3kV air-insulated switchgear grid station to GE Power. The new grid station will be delivered on a turnkey basis at the cement producer’s existing 0.9Mta Nooriabad plant, where a new line is currently under construction. The contract is expected to be completed in early 2019. The station is designed to provide efficient, reliable power to Power Cement from Hyderabad Electric Supply Co (HE...

Pakistan budget 2018-19 offers mixed incentives to cement industry

30 April 2018, Published under Cement News

Pakistan's Federal Minister for Finance, Revenue & Economic Affairs, Dr Miftah Ismail, presented the country's Federal Budget 2018-19 in the National Assembly on 27 April 2018. Analysts have termed the budget for cement industry "Negative to Neutral" although it provides a mixed bag of incentives for cement manufacturers and exporters. The government expects GDP growth of 6.2 per cent for FY19 as compared to 5.8 per cent for FY18. Industrial growth remains the major contributor at an estim...

Lucky Cement to establish 1.2Mta Samawah grinding plant

27 April 2018, Published under Cement News

Lucky Cement Ltd of Pakistan is planning to set up greenfield clinker production facility in southeast of Baghdad, Iraq, according to Irfan Chawala, the ompany's CFO in information sent to Pakistan Stock Exchange (PSX). Lucky Cement plans to set up a 1.2Mta clinker line in Samawah as a step to becoming self-sufficient in terms of clinker production in the country.The US$109m project will be carried out as a joint venture with an existing local partner and is subject to all regulatory and s...

Pakistan releases survey with cement sector update

27 April 2018, Published under Cement News

The Pakistan Economic Survey 2017-18 was released on 26 April by Dr Miftah Ismail, adviser to the Prime Minister on Finance, Revenue and Economic Affairs. The report provides a detailed overview of Pakistan's economic performance during the year.   According to the survey, the cement sector in Pakistan comprises 20 companies, with total listed capital of PKR72.618bn (US$518.7m) and the market capitalisation of PKR610.576bn (US$436m). The recent growth in domestic cement demand has been c...

Cherat Cement reports 15% net profit increase

26 April 2018, Published under Cement News

Pakistan’s Cherat Cement Co Ltd has announced its 9MFY18 results, reporting a 14.6 per cent YoY increase in net profit to PKR1.79bn (US$15.49m). Net sales increased 66 per cent to PKR11.14bn, compared with PKR6.71 of the year-ago period. However, the company’s distribution cost increased by 18.6 per cent to PKR248m, according to its statement to the Pakistan Stock Exchange. The company has a cement production capacity of 2.42Mta from its facility in Nowshera.

Maple Leaf announces 6% increase in net sales

26 April 2018, Published under Cement News

Pakistan’s leading cement manufacturer, Maple Leaf Cement Factory, has announced its 9MFY18 results. The company’s net profit fell 14.7 per cent YoY, to PKR3.37bn (US$29.13m) from PKR3.95bn. Net sales increased 5.9 per cent to PKR19.3bn during the period, mainly due to 20.2 per cent quantitative growth in local sales. Local dispatches rose 20.1 per cent to 2.642Mt (9MFY17: 2.199Mt), while export sales volumes declined 38.7 per cent to 221,185t. No dividend was announced by the company...

Gharibwal Cement's profit falls in 9MFY18

24 April 2018, Published under Cement News

Pakistan's Gharibwal Cement reported a net profit fall in 9MFY18 ended March 2018 to PKR1bn (US$8.6bn) from PKR1.70bn, (US$9.22m) earned in the same period of last financial year. Net sales increased to PKR8.51bn from PKR8.37bn during this period. GCL incurred a distribution cost of PKR17.5m against PKR20m in year ago period. The administrative expenses stood at PKR276m compared to PKR243m in nine months of last year.   The company has a cement production capacity of 2.1Mta in Punjab.

Kohat Cement reports fall in profits in 3QFY18

24 April 2018, Published under Cement News

Kohat Cement (KOHC) has informed the Pakistan Stock Exchange (PSX) that it earned a net profit after tax of PKR652m (US$5.6m) in 3QFY18 (January-March 2018) compared to PKR931m in 3QFY17, down 30 per cent. During 3QFY18 net sales were recorded at PKR3.52bn. It incurred an administrative cost of PKR49m and distribution cost of PKR 27m compared to PKR38m and PKR31m, respectively in corresponding period last year. The company sold 628,773t of cement during January-March 2018, compared to 5...

Export of clinker from Pakistan on the rise

20 April 2018, Published under Cement News

The Pakistan cement industry experts predict a greater clinker export potential for export since excess capacities in China have been curtailed substantially over environmental concerns, while demand from Bangladesh and other countries are also growing. India and Vietnam as well as east Africa (and particularly Uganda and Tanzania) remain viable export destinations for Pakistani cement producers, said Irfan Chawala, finance director and CFO at Lucky Cement Ltd and Irfan Amanullah, general ma...

Maple Leaf Cement's new line on-stream in May 2019

19 April 2018, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) has informed Pakistan Stock Exchange (PSX) about the progress achieved on the implementation of the expansion of its Iskandarabad plant, which is estimated to come online mid-2019. The 7300tpd dry-process grey clinker line, a brownfield expansion at the company's existing site in Punjab, will take total grey cement capacity at the plant to 18,000tpd. The total project cost is estimated at PKR25bn (US$216m), which includes the impact of the recent dev...