Cement News tagged under: Pakistan
Karachi builders seek removal of high rise building ban10 December 2018, Published under Cement NewsThe Association of Builders and Developers of Pakistan (ABAD) once again called for the removal of ban on the construction of high rise buildings in Karachi city, Sindh province. The Supreme Court (SC) ruled recently that the ban imposed on construction of high-rise buildings in specific residential and commercial localities will remain in force in the metropolis. The SC banned construction of high-rise buildings in the urban centres citing water shortage. ABAD has appealed to the Pres... |
Pakistan's cement production falls in July-September FY18/1907 December 2018, Published under Cement NewsPakistan's cement industry recorded a negative growth of 1.41 per cent during first three months of FY18-19, ended 30 September 2018, as production fell from 9.332Mt of cement to 9.2Mt, apparently due to lack of local demand and other issues, reports Pakistan Federal Bureau of Statistics (FBS). However, in September 2018 alone, cement production increased by 10.7 per cent to 3.144Mt from 2.84Mt in September 2017. According to the All Pakistan Cement Manufacturers Association (APCMA), i... |
APCMA reports Pakistan cement dispatch rise for 5MFY2018-1905 December 2018, Published under Cement NewsAccording to All Pakistan Cement Manufacturer Association (APCMA), total dispatches from Pakistan's cement mills in the first five months of this fiscal July-Nov 2018 stood at 19.253Mt against dispatches of 18.513Mt achieved during the corresponding period of last financial year. This represents a four per cent YoY growth. Of this total, the domestic dispatches during July-November 2018 stood at 16.283Mt compared with dispatches of 16.434Mt recorded in July-November 2017. The net decline i... |
Fauji Cement of Pakistan to build new cement plant30 November 2018, Published under Cement NewsAt the 10th Extraordinary General Meeting of Fauji Cement Co (FCCL)'s Board of Directors, held on 29 November, the company secretary was authorised and empowered for the execution of a new cement plant in Pakistan. FCCL also elected executive, non-executive and independent directors for a term of three years commencing from 13 December 2018 to 12 December 2021. First-quarter FY18-19 results During first quarter of FY18-19, FCCL earned a net profit of PKR801m (US$5.97m) as compared to... |
DG Khan Cement of Pakistan plans WHR plants in Punjab28 November 2018, Published under Cement NewsA new waste heat recovery (WHR) plant is being planned by DG Khan Cement to reduce water consumption at its 2.11Mta Chakwal plant in Punjab, according to a report of Intermarket Securities Ltd. T he new plant would include improved technology that requires only marginal water consumption. This would avoid the technical and financial challenges of sourcing water, said the company's management. The step follows a PKR100m (US$0.74m) fine imposed by the Supreme Court of Pakistan on ... |
Four months export revenue growth23 November 2018, Published under Cement NewsPakistan's cement industry earned foreign exchange revenue of US$26.74m by exporting 616,648t of cement during October 2018, compared to US$29.05m on 671,913t of cement in previous month. This represents a fall of 7.9 per cent and 8.23 per cent in value and quantity, respectively on MoM, according to the Federal Bureau of Statistics. If compared to October 2017, earnings of US$23.3m on 472,216t of cement, translates to a growth of 14.8 per cent in earning of foreign currency and 30.5 per... |
Mixed court orders for Pakistan's cement industry20 November 2018, Published under Cement NewsThe cement industry has received mixed court orders from Supreme Court of Pakistan and Peshawar High Court on environmental/water scarcity and the gas tariff issue, respectively last week. Lucky Cement Ltd has received a stay order from the Peshawar High Court bench, which has temporarily directed the gas utility company Sui Northern Gas Pipelines Ltd (SNGPL) not to collect a higher tariff from the cement company. The court also sought written response from the petroleum secretary, Oil an... |
ABAD calls for Pakistan's government to support construction in Karachi20 November 2018, Published under Cement NewsThe Association of Builders and Developers of Pakistan (ABAD), one of the main cement consumers in the country has called on Prime Minister Imran Khan, Federal Finance Minister Asad Umar and Syed Murad Ali Shah, the chief minister of Sindh to save the construction industry from crisis. In an appeal, the association has pointed out that the construction industry has been suffering due to the ban on the construction of high-rise building in Karachi. That has caused financial losses to the me... |
Dandot Cement of Pakistan expects investment from new buyer15 November 2018, Published under Cement NewsIn its newly-released 2018 annual report, Pakistan-based Dandot Cement Co says it has received a firm intention from Calicom Industries (Pvt) Ltd to acquire control and 63,542,787 voting shares (67 per cent of paid up capital) of the company. The new buyer is expected to invest in the modernisation of electrical equipment at its facilities. The report adds that on 5 November 2018, the firm's majority shareholders have given the intention that they are entering into negotiations for sal... |
Pakistani cement firms downgraded from MSCI EM Index15 November 2018, Published under Cement NewsPakistan stock markets may see a repercussion of the MSCI Semi Annual Index Review in the short term. According to market sources, in its November 2018 Semi Annual Review, MSCI has downgraded United Bank (UBL) and Lucky Cement (LUCK) from Standard classification to Small Cap classification. Similarly, Maple Leaf (MCF) and Honda Atlas (HCAR) have been deleted from the Small Cap indexes. These changes will be effective on Monday, 3 December 2018 and will likely lead to passive foreign outfl... |