Cement News tagged under: Pakistan
Maple Leaf Cement has bought shares in a fertiliser company04 April 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd has acquired and settled 6m voting shares of M/s Agritech Ltd (formerly Pak-American Fertilizers Ltd), the first nitrogenous fertiliser plant built in Pakistan. “Under the above acquisition, Maple Leaf Cement Factory Ltd plus Maple Leaf Capital Ltd (person acting in concert) now hold 44,670,000 voting shares of the target company, ie 11.38 per cent aggregate shareholding (taken together with voting shares already held by MLCL) in the target company’s share ... |
Power Cement debuts export to the USA03 April 2024, Published under Cement NewsPower Cement Ltd has dispatched its first shipment to the USA. This shipment follows the start of exports to the Europe. On 27 December 2023, Power Cement marked a significant milestone as it successfully entered the European market by exporting its cement to the UK, marking the company's commitment to global expansion. It positions the company as a formidable force in the international construction materials arena, notably as the first Pakistani cement exporter to enter the UK market. ... |
Flying Cement Ltd's new Line II to announce start of production03 April 2024, Published under Cement NewsFlying Cement Ltd has yet to officially announced the start of production of its new 9000tpd (clinker) Line II, which had a scheduled commissioning date of March 2024. JS Research said commissioning Flying Cement’s 3Mt plant amidst low industry utilisation is challenging. The industry’s average capacity utilisation remained below 60 per cent in the recent quarter, and analysts estimated and pointed out that this could alter the dynamics of the northern market of Pakistan. In the 1HFY... |
Think tank to promote industrialisation in Pakistan02 April 2024, Published under Cement NewsPakistan's top trade body, the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has established a think tank including members from the cement industry to promote industrialisation/export in the country. Atif Ikram Sheikh, president of FPCCI, has formed a high-profile think tank of the apex organisation, comprising the nation’s top economic minds, governance specialists, industrialists, entrepreneurs, investors and exporters. The organisation will be called FPCCI’s Think Ta... |
Pakistan hopes to resume cement and other trade with India01 April 2024, Published under Cement NewsTwo federal ministers of Pakistan, Foreign Minister, Ishaq Dar, and Minister for Maritime Affairs, Qaiser Ahmed Sheikh, have shown intention to resume trade with India, which has been halted since August 2019 following India’s revocation of the special status for Jammu and Kashmir. Both ministers viewed that business people wanted the resumption of trade, but this required further talks and approval by the country's government and parliament. In addition, exporting cement from Pakistan via ... |
Kohat Cement Co's enhances Line 2 capacity and plans solar project01 April 2024, Published under Cement NewsKohat Cement Co (KOHC) has recently completed the BMR of its Khyber Pakhtunkhwa Line 2, enhancing its line capacity to 2.1Mta from 2Mta previously, taking total capacity to 5.2Mta, as well as improving its efficiency by ~10 per cent, matching that of Line 3, according to AKD Research. Furthermore, a second solar unit with 15MW capacity is in the pipeline, expected to be commissioned in the 1QFY24-25. With the commissioning of this project, the company’s solar energy will increase up to 1... |
Fauji Cement Co becomes Pakistan’s third-largest cement producer29 March 2024, Published under Cement NewsFauji Cement successfully commissioned its greenfield cement plant with a clinker capacity of 6500tpd at Shadan Lund district, Dera Ghazi Khan , within a record time of 13 months. With the commencement of operations of the new line on 30 November 2023, the company’s total cement production capacity increased to 10.6Mta, which established the company as the third-largest cement producer in Pakistan. Meanwhile, according to AKD Research, Fauji Cement effectively increased its local marke... |
A top official of Attock Group receives the highest civil award28 March 2024, Published under Cement NewsAttock Group of Companies in Pakistan congratulates Shuaib A Malik, Group CEO, on being conferred with the prestigious Sitara-e-Imtiaz by the government of Pakistan. He has been recognised for his outstanding contributions to fostering and facilitating foreign direct investment (FDI) in Pakistan's ever-challenging business environment. Attock Group of Companies includes the holding company Attock Oil Company Ltd (AOC). Its subsidiaries include Pakistan Oilfields Ltd (POL), Attock Refine... |
Pioneer Cement coal mix strategy impacting positively25 March 2024, Published under Cement NewsPioneer Cement Ltd (PIOC), which had a market capitalisation of US$110m on 8 March, will see healthy growth in profit and dividend yields, according to AKD Research. This is based on the company's past performance and steps taken to improve margin. The research house believes that improved fuel mix results may increase profitability. PIOC has exceeded market expectations, with a drop in coal prices and an increase in local coal in the fuel mix, resulting in gross margins expanding to 32... |
Lucky Cement is reaping the benefits of expansion25 March 2024, Published under Cement NewsAccording to AKD Research, Lucky Cement has demonstrated prowess in seizing opportunities, particularly through efficient coal inventory procurement, per management guidance. This strategy has resulted in the company achieving the highest gross margins among its peers, standing at 36.4 per cent in 1HFY23-24, with unconsolidated earnings doubling over the previous year. Similarly, consolidated earnings remained robust, driven by the growth in power subsidiary earnings (up 84 per cent YoY) a... |