Cement News tagged under: Pakistan
DG Khan Cement is exploring Mexico to export cement from Pakistan29 November 2023, Published under Cement NewsAccording to AKD Research, DG Khan Cement Co Ltd (DGKCC) held its corporate briefing on 24 November to apprise investors of its FY22-23 financial results and the company’s future outlook. DGKC recently exported two shipments to Mexico and four shipments to the USA. Management is actively focussing on exports to increase capacity utilisation. It expects higher clinker exports this year, but the impact would not be significant as clinker exports have minimal margins. However, margins on c... |
Thatta Cement Co to install another 2.2MW of solar power by year-end28 November 2023, Published under Cement NewsAccording to a report of AHL Research, the management of Thatta Cement Co Ltd (THCCL) held a corporate briefing session on 24 November to discuss the FY22-23 financial result and future outlook. Recalled here that the company posted consolidated earnings of PKR310m (US$1.099m) in FY22-23 versus PKR86m in the same period last year, a YoY increase of 258 per cent. The company also announced shares buyback of up to PKR15m, about ~15 per cent of the paid-up capital. Thatta Power (Pvt) Ltd (... |
Fecto Cement Ltd is in discussion to install solar plant28 November 2023, Published under Cement NewsAccording to AHL Research, Fecto Cement Ltd (FECTC) management held a corporate briefing session on 24 November to discuss the FY22-23 and 1QFY23-24 financial results and future outlook. The management is in discussion of installing additional solar plants to become cost-efficient. In FY22-23 The company generated about 42 per cent of its power through captive plants, and the rest was taken from the Water & Power Development Authority. In 1QFY23-24 captive generation rose by 44 per cent. ... |
Pioneer Cement still to decide on greenfield or brownfield expansion27 November 2023, Published under Cement NewsPioneer Cement has yet to select a green or brown option for expansion in the Punjab. Topline Securities hosted a corporate briefing session (CBS) for Pioneer Cement Co Ltd (PIOC) on 24 November, where PIOC group chairman, M Habibullah Kha, shared the company’s future outlook. The company’s management highlighted that PIOC had acquired a site at DG Khan for a greenfield project in southwestern Pakistan. However, preference would be given to put up additional lines at the current locati... |
Gharibwal Cement vows to continue the BMR project27 November 2023, Published under Cement NewsGharibwal Cement Ltd in Pakistan has arranged a corporate briefing session on the FY22-23 and 1QFY23-24. To recall, the company posted a profit after tax of PKR1.232bn (US$4.311m) in FY22-23 vis-à-vis PKR1.355bn in FY21-22. BMR Projects – existing line Top officials outlined the company's balancing, modernisation and replacement (BMR) programme at its 2.11Mta plant in Jehlum, Punjab. A 10MW solar plant is under negotiation with various vendors and a letter of credit (LC) facility is in ha... |
Lucky Cement completes the biggest of its kind buyback of shares24 November 2023, Published under Cement NewsLucky Cement informed the Pakistan Stock Exchange (PSX) earlier this week that the company wants to announce the closure of the purchase period about the buyback of shares by the company, as approved by the members of Lucky Cement Ltd (the “Company”) in the Extraordinary General Meeting held on 24 May 2023. During the purchase period, the company purchased an aggregate of 20,375,000 ordinary shares of the company (purchased shares), representing approximately 6.50 per cent of the issued an... |
Rupee appreciation continues to sustain cement exports from Pakistan23 November 2023, Published under Cement NewsPakistan’s cement industry has registered significant growth in cement and clinker exports during the first four months of FY23-24 (July-October 2023) due to the continued depreciation of the Pakistani rupee and the falling coal prices. Pakistan’s cement and clinker exports increased by around 40.5 per cent in the 4MFY23-24 to US$93.08 (2.405Mt) compared to US$66.27m (1.324Mt) in the 4MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In terms of volumes, exports increased by 81.69... |
Maple Leaf Cement to move into hospital sector21 November 2023, Published under Cement NewsPakistan’s Maple Leaf Cement (MLCF) is investing PKR800-900m (US$2.77-3.12m) in a new solar power plant. The plant is expected to have a production capacity of 7.5MW. The company has also announced plans to diversify into the health business with the construction of a hospital. According to the company, the margins would be better than those seen in the cement business. The hospital project is expected to take three years to complete and represents an investment of PKR30bn. Although loc... |
Pakistan to strategise industrial policy, including cement21 November 2023, Published under Cement NewsPakistan’s caretaker government has formed a 19-member Industrial Advisory Council to develop industrial policies, including for the cement industry. The council comprises members from different industries, such as cement, fertiliser, pharmaceutical, steel, textile, packaging, electronics, etc. It is chaired by the Federal Minister of Industry and Production, Gohar Ejaz, and includes 12 private members and six members from the public sector. Its goal is to advise the government on ways to... |
PIBT saw a host of economic challenges in FY22-2316 November 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) said in its annual report that during FY22-23, the company’s business was affected by the volumes handled, which lowered from 8.243Mt last year to 4.842Mt for the year ending 30 June 2023. It attributes the fall to the country's macroeconomic challenges, such as the high level of inflation, increased interest rates, devaluation of the Pakistani rupee against the US dollar, reduced economic activity and import restrictions. As a terminal o... |