Cement News tagged under: Pakistan
FLSmidth wins DR Congo plant project21 August 2014, Published under Cement NewsFLSmidth has won a contract worth EUR68m from Nyumba Ya Akiba SARL to supply a complete package of equipment and engineering for a greenfield cement plant in the Democratic Republic of Congo. The plant will be located in the province of Bas-Congo, approximately 250km west of the capital Kinshasa. Nyumba Ya Akiba SARL is a joint venture between Pakistani Lucky Cement Ltd and the Rawji Group of the Democratic Republic of Congo. The parties are well established players in the cement industry ... |
Fauji Cement full-year net profit rises 27% YoY21 August 2014, Published under Cement NewsPakistan-based producer Fauji Cement reported a net profit of PKR2.39bn (US$23.7m) for the fiscal ending 30 June 2014, up 27 per cent YoY compared to PKR1.88bn in the year before. An increase in cement prices and lower financial charges contributed to the Fauji Cement’s earnings, a report by Global Research said. During the fourth quarter, earnings declined 46 per cent QoQ to PKR403m due to a higher effective tax rate of 54 per cent (versus 40 per cent during 3QFY13) and a preferred di... |
Pakistan sales decline in first month of new fiscal12 August 2014, Published under Cement NewsPakistan cement dispatches during the first month of the new fiscal (FY14-15) proved disappointing with both domestic and export sales registering YoY declines. Total sales during July 2014 fell 14.12 per cent to 2.23Mt compared to 2.6Mt, latest data from the Pakistan Cement Manufacturers Association (APCMA) shows. Domestic dispatches during July 2014 were down by 6.5 per cent YoY to 1.73Mt. Meanwhile, exports were 503,000t versus 749,000t during July 2013, representing a YoY decline o... |
Changes needed to Pakistan cement tariffs and tax11 August 2014, Published under Cement NewsWith domestic cement dispatches dipping in July to 1.73Mt compared with 1.85Mt during same month last year, Pakistan producers witnessed a decline of 6.52 per cent. Furthermore, exports last month were 503,000t against 749,000t during July 2013, a reduction of 32.89 per cent. Total dispatches during July were only 2.23Mt compared to 2.6Mt during same month last year, a decline 14.12 per cent. Now the Pakistan Cement Manufacturers Association (APCMA) is requesting the government to consider c... |
Cherat Cement to increase capacity, Pakistan01 August 2014, Published under Cement NewsCherat Cement plans to invest PKR12bn (US$121.5m) in expanding capacity at its Pakhtunkhwa works, according to a company official. The company will be investing in a new 1.3Mta line, said Abid A Vazir, executive director of Cherat Cement. The decision to raise capacity is due to an expected rise in domestic consumption. The move will effectively double Cherat's capacity which currently stands at 1.1Mta. The term-loan for the project has been arranged. The project has reportedly been awa... |
Holiday slowdown affects Pakistan & Bangladesh31 July 2014, Published under Cement NewsImports and exports of cement and raw materials through some of Pakistan and Bangladesh’s key ports have been disrupted since 25 July 2014 due to the Eid ul-Fitr festival and seasonal holidays. Both governments have officially declared 4-5 days holiday for the Eid festivities but offline periods have been stretched due to weekly holidays as well. Pakistan The partial suspension of loading operations at Karachi Port and Port Qasim have affected the export of about 55,000t of cement fr... |
Pakistan export revenues down in FY1428 July 2014, Published under Cement NewsPakistan reported a decline in export revenue in FY14, due in part to lower sales to Afghanistan and a decline in average export prices. Encouraging trends were, however, noted in exports to India and other parts of the world. Data from the All Pakistan Cement Manufacturers Association shows that total dispatches increased by 2.52 per cent YoY to 34.273Mt. Exports totaled 8.73Mt on revenues of US$509.46m compared to 9.09Mt at US$577.44m in FY13. This translated to a fall of 3.97 per cen... |
Lafarge sells Pakistan cement operations24 July 2014, Published under Cement NewsLafarge announced the sale of its cement operations in Pakistan for an enterprise value of US$329m to local producer Bestway Cement. Lafarge Pakistan Cement Ltd, in which Lafarge owns a 75.86 per cent stake, operates an integrated cement plant located close to Islamabad in the north of the country. The divestment contributes to Lafarge’s net debt reduction goals, the company said in a statement. Completion of the deal is subject to regulatory approval. |
Lucky Cement refutes QWP claims, Pakistan14 July 2014, Published under Cement NewsLucky Cement has countered claims by local political party representatives who allege the insufficient provision of royalties and social sector initiatives to the district in which the cement producer operates. Last week, it was reported that Imranullah Begukhel, general secretary for the Qaumi Watan Party (QWP), and representatives for the Begukhel, Samandi and Darra Tang union councils were calling on Lucky Cement to launch schemes which would provide a boost to residents of the Lakki Mar... |
Pakistan: locals demand share in Lucky Cement plant project11 July 2014, Published under Cement NewsAt a district chapter meeting for the Qaumi Watan Party (QWP) activists and office-bearers of Begukhel, Samandi and Darra Tang union councils have called for royalty shares in Lucky Cement and ISL Qaboolkhel uranium plant projects in Lakki Marwat, Pakistan. Highlighting that both companies had been established on Marwat soil, Imranullah Begukhel, QWP general secretary, alleged that residents of the district have been insufficently served by royalties from both Qaboolkhel and Lucky Cement. ... |