Cement News tagged under: Pakistan
Cherat Cement's 1H profits up 32%09 February 2018, Published under Cement NewsCherat Cement (CHCC) announced earnings of net profit after tax of PKR1.34bn (US$12.1m) for the July-Dec 2017 period against PKR1.02bn in the corresponding period last year, showing a YoY growth of 31.6 per cent. The company also announced in a bourse filing an interim cash dividend of PKR1/share. The company's net sales increased from PKR4.08bn to PKR7.58bn during the period. Cherat Cement incurred a distribution cost of PKR165m and administrative expenses of PKR119m compared to PK... |
Dewan Cement strikes deal with Mega Conglomerate08 February 2018, Published under Cement NewsMega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed. |
Pakistan cement industry records highest capacity utilisation in 7MFY17-1806 February 2018, Published under Cement NewsThe capacity utilisation of the Pakistani cement industry during the first seven months of this fiscal reached 91.3 per cent, the highest since 2004-05, according to the All Pakistan Cement Manufacturers’ Association (APCMA). The association also released data for January 2017, when total cement dispatches of 4.084Mt included 3.737Mt of domestic consumption with the balance being exported. During the first seven months of current fiscal the cement industry dispatched 26.327Mt against 22.90... |
State Bank of Pakistan reports FDI fall for cement sector06 February 2018, Published under Cement NewsAccording to data of the State Bank of Pakistan, country has received a net foreign direct investment (FDI) of US$1.381bn in July-Dec 2017-18 compared to US$1.421bn in same period last year. This translates a fall of 2.8 per cent of foreign investment in Pakistan. Out of this FDI, the net investment for cement sector during July-Dec 2017-18 stood at US$18.7m compared to US$20.4m in July-Dec 2016-17. This translates a fall of 8.33 per cent. However, in a separate note, expansion projec... |
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 ... |