Displaying items by tag: Pakistan
Pakistan: Lucky Cement has inaugurated a waste heat recovery (WHR) unit in Pezu, Khyber-Pakhtunkhwa, its fifth across its operations. The unit generates 10MW from two 2400t/day cement production lines. It was installed by China’s Sinoma.
The inauguration ceremony was attended by Muhammad Ali Tabba, CEO of Lucky Cement, as well as other members of the company’s senior management. “As one of the leading cement manufacturers in Pakistan, we have the responsibility to reduce energy consumption and improve the environment. With the launch of our fifth WHR plant, we aim to do just that,” said Tabba.
Pakistan: Flying Cement plans to double the production capacity of its Lilla cement plant in Mangowal, Punjab. It has struck an agreement with an undisclosed Chinese contractor to upgrade the plant’s clinker capacity to 4000t/day from 2000t/day. No value for the deal has been released. The plant has a cement production capacity of 0.63Mt/yr. It was originally supplied by Japan’s IHI.
Pakistan: Bestway Cement plans to set-up a 6000t/day integrated cement plant at its Farroqia site in Khyber-Pakhtunkhwa province. It has signed an agreement with China’s Sinoma International Engineering Company to build the plant. No cost for the project or a scheduled timescale has been released.
Pakistan: The Federal Board of Revenue (FBR) has found that Zeal Pak Cement dodged paying US$19.7m to the authorities via tax evasion and money laundering schemes. As well as underpaying tax on imports of cement the cement producer also sent money to Iran, according to the National Herald Tribune newspaper. The FBR was alerted to the malpractice mid-way through importing a 86,500t consignment of Ordinary Portland Cement that was subsequently impounded. Zeal Pak Cement is also accused of fabricating false invoices and other documents.
Pakistan: Maple Leaf Cement’s sales revenue increased by 11% year-on-year to US$114m in the first half of its financial year to 31 December 2016. Its profit rose by 12% to US$25m, according to the Dawn newspaper. Growth was attributed to cement sales in the local market despite a significant drop in exports to Afghanistan and an increase in the price of coal.
Pakistan: Dewan Muhammad Yousuf has been appointed as the chairman of the board of directors and Syed Muhammad Anwar has been appointed as the chief executive officer of Dewan Cement. The appointments took effect from 6 February 2017.
Pakistan: Pioneer Cement has signed contracts with Chengdu Design & Research Institute of Building Materials Industry (CDI) to build a new 8000t/day clinker production line at its cement plant in Chenki, District Khusshab in Punjab. The order also includes a 12MW waste heat recovery unit and a captive 24MW coal power plant. No value for the order has been disclosed.
Pakistan: The UK’s Asian Precious Minerals has announced plans to build a US$400m cement plant in Khyber-Pakhtunkhwa province. Asian Precious Minerals’ chief executive officer (CEO) Nadim Khan, Executive Director Peter Frost, Country Manager Irshad Ali Khokhar and Jason Mumtaz of the British High Commission met with provincial Chief Minister Pervez Khattak to discuss the plans, according to the Express Tribunal newspaper. The project hopes to take advantage of infrastructure demand being driven by the China-Pakistan Economic Corridor.
Pakistan: Syed Jamal Shahid has retired as a director of Fauji Cement with effect from 19 January 2017. Tahir Ashraf Khan has been appointed as a director of the company with effect from 20 January 2017.
Pakistan: Lucky Cement’s sales have risen by 13% year-on-year to US$514m for the six months to 31 December 2016 from US$454m in the same period in 2015. Its profit after tax rose by 14% to US$83m from US$73m. It attributed the increase in revenue on rising sales volumes and its cost of sales fell due to lower fuel costs.
Its cement sales volumes rose by 5.4% to 3.5Mt from 3.3Mt, although exports fell by 16.3% to 0.75Mt from 0.9Mt. Overall the cement producer reported that its market share in Pakistan grew slightly to 18.8% due to an increase in its share of domestic sales.
The cement producer reported that construction at its Punjab cement plant project is awaiting governmental approvals and that it is expected to start in June 2017. A waste heat recovery unit at its Pezu plant is planned to finish commissioning and start operation by the end of January 2017. A joint-venture 1.18Mt/yr plant in the Democratic Republic of the Congo started commercial operation in December 2016 and a 0.87Mt/yr cement grinding plant in Iraq is expected to come online in August 2017.