Displaying items by tag: Pakistan
Pakistan: Thatta Cement produced 211,000t of cement during the first half of 2023 financial year, up by 3.7% year-on-year from 204,000t during the first half of 2022 financial year. Its clinker production rose by 55% to 190,000t from 122,000t. The producer despatched 215,000t of cement, up by 4.7% year-on-year from 205,000t. Its despatches of clinker fell to 0t from 4990t.
Thatta Cement said "During the period under review, persistent political instability and indecisive monetary measures have left the business to face gross challenges. Recent floods brought on by extremely strong monsoon rains have damaged the national infrastructure and created a food crisis. The catastrophic flood has killed thousands of people, besides flooding one-third of the country. This has further compounded the agony of an economy which has already been struggling for its survival due to ever increasing current account deficit, sharply rising inflation rate and massive rupee devaluation."
Pakistan: Power Cement has appointed Taha Hamdani as its chief financial officer. He succeeds Irfan Sikander Bawa in the post.
Pakistan: Fauji Cement recorded sales of US$406m during the first half of its 2023 financial year, up by 33% year-on-year from US$306m in the first half of the 2022 financial year. The producer's profit was US$61.3m, up by 34% from US$45.7m. During the half, the company's selling and distribution expenses fell by 1.4%, its administrative expenses rose by 8% and its other expenses rose by 12%.
Coal supply resumes to Hetauda Cement Udyog's Hetauda cement plant
24 February 2023Nepal: Hetauda Cement Udyog has resumed operations at its Hetauda cement plant after receiving a 1600t delivery of imported coal. República News has reported that importers sourced the coal from Bhutan, India, Indonesia and Pakistan. The Hetauda cement plant had been out of operation since 10 February 2023 due to a lack of coal. The producer said that the latest delivery will last it until 11 March 2023. The producer had ordered 8000t of coal.
Pakistan: Bestway Cement has published its first-half results for the 2023 Pakistan financial year, showing a 20% year-on-year rise in its gross turnover to US$222m from US$185m. Its cost of sales rose by 25% to US$110m, but failed to offset sales growth, resulting in 23% profit growth to US$44.5m from US$35.3m.
Pakistan: DG Khan Cement recorded sales of US$114m during the first half of the 2023 Pakistani financial year. The figure corresponds to growth of 8.5% year-on-year from US$105m in the first half of the 2022 financial year. Its cost of sales was US$97.4m, up by 82% from US$53.4m. Its profit was US$3.56m, up by 72% from US$2.07m.
Pakistan: Pioneer Cement's sales were US$95.7m in the first half of its 2023 financial year. This corresponds to a 19% year-on-year rise from US$80.2m in the first half of the 2022 financial year. The producer overcame 20% growth in its cost of sales to US$53.2m from US$44.2m, to record a profit after tax of US$6.72m, up by 54% from US$4.36m.
Kohat Cement buys back 2.5% of shares
22 February 2023Pakistan: Kohat Cement has informed the Pakistan Stock Exchange that is has bought back 2.5% of its shares. The value of the transaction was US$191,000.
Bestway Cement inaugurates Hattar cement plant's Line 2
21 February 2023Pakistan: Bestway Cement has announced the successful commissioning of its Hattar cement plant's new 2.63Mt/yr Line 2. The line increases Bestway Cement's installed capacity by 21% to 15Mt/yr. It is equipped with a 9MW waste heat recovery (WHR) plant. The Nation newspaper has reported that the producer completed the project in under 15 months.
Hattar cement plant was Bestway Cement's original cement plant. It opened in 1998, with a capacity of 1Mt/yr.
Minister calls for cancellation of new cement plant in Hub
15 February 2023Pakistan: Balochistan's local government minister has called for the cancellation of the allotment of a large area of land to a cement plant in Hub, adding that he would take the matter to court. Mohammad Saleh Bhootani said the Mines and Minerals Development Department had allotted 18,200 hectares of land that he says belonged to the people of Hub and Lasbela districts.
The allotted land comprises mountains, agriculture lands, hundreds of villages, farms and graveyards, he said, arguing that there was no justification for allotting such a vast area to a cement plant. Bhootani warned locals that fences would soon be erected around the site, forcing those that live there out of their homes. He urged Chief Minister Abdul Qudoos Bizenjo to “show mercy on the poor people of the area and cancel the allotment.” The minister said that if the allotment was not cancelled, he and the people of the area would take legal action.
The parliamentary leader of the Balochistan National Party-Mengal, Naseer Ahmed Shahwani, condemned the allotment and demanded the government withdraw its decision. 'If such practices continue, what will be the future of Balochistan?' he wondered.