Cement News tagged under: Pakistan
Danish investors and FLSmidth buy into Power Cement05 February 2018, Published under Cement NewsA joint venture of foreign investors IFU (Danish Investment Fund for Developing Countries), IIP (IFU Investment Partners) and FLSmidth have reportedly purchased over 100m shares in Power Cement Ltd (PCL) and its undertaking, situated at DehKaloKohar, Nooriabad Industrial Estate, District Dadu (Sindh), Pakistan. PCL has informed the Pakistan Stock Exchange (PSX) last week that that the subscription amount (in euros) has been received against 104,658,670 ordinary shares by way of allotmen... |
Pakistan cement sales expected to rise 22%02 February 2018, Published under Cement NewsPakistan cement sales are expected to post a 22 per cent YoY growth for January 2018. This translates to an increase of 3.7Mt from the year-ago period, mainly supported by high local demand, reports The News International. "We attribute this (increase) to higher demand coming from ongoing development projects and housing schemes," said Nabeel Khursheed, an analyst at Topline Securities, in a financial report. "Local dispatches are expected to post growth of 26 percent on yearly basis,... |
Dewan Cement to sell controlling shares of two plants01 February 2018, Published under Cement NewsDewan Cement Ltd is reportedly in talks with Karachi-based Mega Conglomerate Ltd to sell its controlling shares in two plants based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. BMA Capital has been appointed as the manager of the deal, overseeing the acquisition of 87.5 per cent of total shares from Dewan Cement. While 75 per cent of the controlling shares will be from major shareholders, the remainder will b... |
Pakistan's producers plead for import duty rise01 February 2018, Published under Cement NewsThe cement industry has urged Pakistan's government to increase custom duty on import of clinker to support the local manufacturers, as exports continue to decline. The industry asks that importers register themselves with Pakistan Standards and Quality Control Authority (PSQCA) to certify the quality of their cement in line with the Indian government as well as all other importing countries' authorities. High government energy levies have encouraged some unscrupulous elements to smu... |
Lucky Cement may opt for Pezu expansion29 January 2018, Published under Cement NewsLucky Cement of Pakistan has announced that in view of the continued delay in expansion plant for north, the company is evaluating for brownfield expansion of 2.3Mta at its existing plant location in Pezu, Lakki Marwat district, in the Khyber Pakhtunkhwa province. The company's 2.3Mta fully-integrated greenfield works in Punjab province is currently awaiting approval from the Punjab government to start construction, said the company in a bourse filing. Therefore, Lucky Cement is conside... |
Power Cement announces progress of expansion26 January 2018, Published under Cement NewsPower Cement Limited has released a progress report regarding its brownfield project in Nooriabad, for the quarter ending 31 December 2017. The expansion is expected to increase plant capacity by 2.5Mta to 3.4Mta, at an estimated cost of PKR24.9bn (US$224.8m). The company plans to commission the new capacity by the last quarter of FY19, ending 30 June 2019. Power Cement has already provided letters of credit for the PKR10bn order for supply of engineering and equipment from FLSmidth. The ... |
Attock Cement reports net sales increase in 2H1725 January 2018, Published under Cement NewsAttock Cement Pakistan Ltd has announced its financial results for the half-year period ended 31 December 2017. The company’s profit after tax fell 16 per cent YoY, to PKR1.15bn (US$10.38m) from PKR1.37bn seen in the year-ago period. Attock Cement’s net sales increased to PKR7.56bn in the second half of 2017, compared to PKR7.22bn of 2H16. The company also reported a distribution cost of PKR48.5m (2016: PKR52.6m) and administrative expenses of PKR24.1m (2016: 20.9m) in the 2H17. Furthe... |
Pakistan exports fall 16% in 1HFY1825 January 2018, Published under Cement NewsThe volume of cement exports from Pakistan fell by 16.04 per cent YoY in the first half of the current financial year (July-Dec 2017). Data released by the Federal Bureau of Statistics shows that Pakistan exported 2.35Mt of cement in the period, compared to 2.80Mt of the 1HFY17. The value of the cement exports decreased by 18.57 per cent, to US$118.5m from US$145.6m of the year-ago period. In December 2017 the country exported 293,522t of cement, a MoM decrease of 19.24 per cent from 363,4... |
India becomes second-largest market for Pakistani cement exporters22 January 2018, Published under Cement NewsPakistan’s cement exports to India grew by 26.3 per cent in FY17. Since beginning in 2010, India has become the second-largest market for cement exporters, with a 27 per cent share of the total exports from Pakistan in FY17. Elsewhere, exports to Pakistan’s largest market, Afghanistan, fell for the sixth consecutive year in 2017. This has been attributed to a large portion of Afghanistan’s demand now being met by cheaper cement imported from Iran. The decline is part of an overall decrea... |
Pakistan: no dismantling of cement plants around Katas Raj22 January 2018, Published under Cement NewsPakistan’s Supreme Court will not issue any order to dismantle existing cement plants as output from the facilities will be required for the ongoing China-Pakistan Economic Corridor project, said Chief Justice Saqib Nisar. The Supreme Court's attention was drawn towards the holy pond, part of the Katas Raj temple complex, which is drying out due to water consumption by nearby cement factories that draw water using a number of drill bores and have severely reduced the subsoil water level a... |