Cement News tagged under: Pakistan
Dandot Cement continues to posts losses20 December 2019, Published under Cement NewsDandot Cement Company Ltd (DNCC) of Pakistan has announced its financial results for the first quarter ended September 2019, yesterday. It incurred a net loss of PKR220m (US$1.42m) as compared to loss of PKR49.4m reported in the same quarter last year. The major factor responsible for this declining trend in company’s profit, was a 63.7 per cent fall in sales to PKR144m from PKR397m in the same period last year. The company incurred a higher distribution cost and lesser administrative ex... |
Pakistan continues to earns mixed revenue in 5MFY2019 December 2019, Published under Cement NewsPakistan's cement industry earned foreign exchange revenue of US$124.2m by exporting 3.246Mt of cement and clinker between July and November 2019, compared to US$131.11m from exporting 3.046Mt of cement and clinker in same months last year, says the country's Federal Bureau of Statistics. This translates a YoY fall of 5.3 per cent in terms of dollar value but a growth of 6.6 per cent in terms of quantity in first five months of current financial year. However, in local currency terms, the e... |
Increased FDI inflows in Pakistan yet to positively impact cement19 December 2019, Published under Cement NewsAccording to data of the State Bank of Pakistan, Pakistan has received a net total foreign direct investment (FDI) of US$850.01m during first five months of current financial year (July and November 2019), compared to US$477.3m received in same months of the previous year. This represents an increase of 78 per cent YoY, mainly due to a high inflow from Norway and China between July and November 2019. However, this increasing trend in FDI was poorly reflected in the investment in the country... |
Fauji Cement to diversify17 December 2019, Published under Cement NewsFauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange that the 135th Special Board Meeting of the company held at the Fauji Foundation's head office in Rawalpindi on 13 December 2019 decided to pool resources and diversify investment. The Board of Directors have discussed and resolved that in the interest of the company an Extra Ordinary General Meeting be convened soon to consider and approve the resource sharing arrangement to be entered into with Askari Cement Ltd (an Ass... |
Pakistan's government allocates more funds for development17 December 2019, Published under Cement NewsThe cement industry in Pakistan has welcomed the federal government decision to release PKR298bn (42.5 per cent), including PKR61.75bn (US$1.29bn) of foreign aid (48.13 per cent) for various ongoing and new development projects under the Public Sector Development Programme (PSDP) 2019-20 against the total budgeted allocation of PKR701bn. This positive news has pushed up the prices of cement scripts in Karachi Stock Exchange on 16 December in the short term and is expected to create demand ... |
Punjab to ease issuance of NoC for cement plant in province16 December 2019, Published under Cement NewsPakistan's cement industry welcomes the provincial government of Punjab's move to ease the processes of approval in setting up a cement plant in province. According to media reports, Provincial Minister for Industries and Trade, Mian Aslam Iqbal, has said that the Punjab government has lifted the 12-year ban on the cement industry, which is expected to see an improved performance and contribition to the national economy. A dedicated task force with key people in the ministry's industries ... |
Pakistan's Popular Group acquires Dadabhoy Cement13 December 2019, Published under Cement NewsPopular Group of Pakistan has officially announced the purchase of a private-sector cement manufacturing facility in Sindh province of Pakistan. The announcement says, "It is hereby notified for the information of general public that Dadabhoy Cement Factory has been purchased by Popular Group, and now its name has been changed to Popular Cement Industries (Pvt) Ltd." Popular Cement Industries will start its cement production soon, the announcement concludes. The company's plant in Dadu ... |
Pakistan exports record buoyant growth in 5MFY201013 December 2019, Published under Cement NewsExports from Pakistan during July-November 2019 witnessed a growth of 4.8 per cent against the same period of 2018, said Pakistan Bureau of Statistic (PBS). The data is yet to give breakdown of exports, but it is believed that export of cement has also increased during this period. According to PBS, during July-November 2019 the country exported various goods and services worth US $9.545bn against July-October 2018’s exports of US$9.109bn, reflecting an increase of 4.9 per cent in the coun... |
Maple Leaf to elect new directors13 December 2019, Published under Cement NewsMaple Leaf Cement Factory Ltd has announced that an Extraordinary General Meeting of the members of will be held on Tuesday, 31 December 2019 in Lahore, to elect eight directors of the company, as fixed by the Board of Directors, in accordance with the provisions of Section 159 of the 2017 Companies Act for a term of three years commencing 31 December 2019 in place of the retiring directors. The directors expected to retire from the board are: Tariq Sayeed Saigal, Sayeed Tariq Saigol, Tauf... |
Power Cement starts new production lines11 December 2019, Published under Cement NewsPower Cement Ltd (PCL) has informed Pakistan Stock Exchange (PSX) that its new 7700tpd clinker production plant has started producing clinker from 10 December, says a notification sent by Company Secretary, Tahir Iqbal. PCL has been in process of installation of its two plants, namely a 7700tpd 'clinker production plant' and an 8800tpd 'cement production and dispatch plant' – increasing its capacities to 10,700tpd of clinker and 12,100tpd of cement, respectively. With this installation, PC... |