Displaying items by tag: Pakistan
Pakistan: Lucky Cement’s consolidated sales in its 2022 financial year, which ended on 30 June 2022, were US$1.47bn. This represents an increase of 60% year-on-year from US$920m in the 2021 financial year. The group said that it overcame economic challenges during the year through its successful execution of its diversification strategy and the ‘robust’ performance of all its businesses. Its full-year net profit was US$162m, reportedly in line with its previous year’s performance.
Lucky Cement’s standalone cement sales volumes fell by 8.9% year-on-year to 9.1Mt from 10Mt. Its exports fell by 25% to 1.8Mt from 2.4Mt.
Ishtiaq Ahmed appointed as head of Dewan Cement
27 July 2022Pakistan: Dewan Cement has appointed Ishtiaq Ahmed as its chief executive officer (CEO). He succeeds Malik Bilal Omar in the position. Ishtiaq Ahmed was previously appointed as the company’s chair in 2018. Waseem-ul-Haque Ansari has also been appointed as a director in place of the departing CEO.
Kohat Cement to establish 10MW solar power plant
18 July 2022Pakistan: Kohat Cement has informed the Pakistan Stock Exchange of its plan to establish a 10MW solar power plant at the site of its Kohat cement plant in Khyber Pakhtunkhwa. The producer says that the plant will be connected to the national grid.
Cherat Cement and Lucky Cement import Afghan coal
13 July 2022Pakistan: Cherat Cement and Lucky Cement are among three companies to have imported 10,000t of coal from Afghanistan in the two-month period up to 11 July 2022. Asian News International has reported the other company was Fauji Fertilizer Power Station.
The local coal price in Afghanistan was US$188/t on 11 July 2022.
Popular Cement Industries wins Sindh mine case
08 July 2022Pakistan: Popular Cement Industries has won a court case against Gatron Group, which the cement company claimed was intruding upon a mine held under lease by it. The Business Recorder newspaper has reported that Gatron Group began construction of a partition wall across the mine. The judge ruled that Popular Cement Industries inherited its lease from Dadabhoy Cement in 1986.
Pakistan: All Pakistan Cement Manufacturers Association (APCMA) members despatched 52.9Mt of cement in the 2022 financial year, down by 7.9% year-on-year from 57.4Mt in the 2021 financial year. The News International newspaper has reported that exports fell by 44% year-on-year to 5.25Mt from 9.31Mt. In June 2022, despatches rose by 1% year-on-year to 5.26Mt from 5.21Mt. Exports declined by 48% to 284,000t from 543,000t. APCMA said that high costs caused the decline, which continues into the current 2023 financial year (which begun on 1 July 2022).
An association spokesperson said “The export of cement has declined massively during the ongoing financial year due to the high cost of production.”
Pakistan: The Federal Board of Revenue (FBR) has ordered cement producers to ensure that all cement bags that leave manufacturing sites include a tax stamp or unique identification marking from October 2022. The new requirement is intended to allow for the electronic monitoring of production and sales of goods, according to the Pakistan Today newspaper. This is part of a set of measures designed to increase tax revenue, reduce counterfeit products and stop smuggling.
DG Khan Cement ships 50,000t of cement to the US
21 June 2022Pakistan: DG Khan Cement has despatched a shipment of 50,000t of cement for Houston, US, from Karachi. The Balochistan Times newspaper has reported that the shipment is the first of 12 consignments of the same size under an order for 600,000t of low-alkali cement. If successful, the order may double to 1.2Mt. The producer is using jumbo bags to transport the product on its 42-day journey overseas.
Marketing director Fareed Afzal said that Pakistani businesses need to diversify their export markets and strengthen foreign currency reserves. He added that DG Khan Cement continues to reduce its products' carbon footprints by using renewable energy, waste heat recovery (WHR) and alternate fuels (AF).
Fauji Cement’s sustainability initiatives slash 215,000t of CO2 emissions in 2022 financial year
20 June 2022Pakistan: Fauji Cement says that its sustainability initiatives across its three cement plants reduced CO2 emissions by 215,000t in the 2022 financial year. The Pakistan Today newspaper has reported that clinker factor reduction in reduced-CO2 products such as Askari Green cement and Pamir cement eliminated 89,900t-worth of emissions, 42% of total reductions. Waste heat recovery (WHR) plants eliminated 79,400t of emissions (37%), solar power plants eliminated 31,500t (15%), alternative fuel (AF) substitution eliminated 8030t (3.5%) and reforestation eliminated 600t (2.5%).
Pakistan: Fauji Cement has ordered three MVR vertical roller mills from Germany-based Gebr. Pfeiffer for its upcoming Salar cement plant in Dera Ghazi Khan/Punjab Province. The supplier says that the order consists of a 520t/hr MVR 5600 R-4 mill for grinding raw materials and two 180t/hr MVR 5000 C-4 mills for cement grinding. China-based Hefei Cement will handle the order.