Displaying items by tag: Fauji Cement

Pakistan: The government of the Punjab will charge cement producers in the state up to US$0.93/m³ for ground water used in their cement production. The Dawn newspaper has reported that the charge will depend on water availability, and be US$0.6/m³ in water secure areas, US$0.85/m³ in semi-critical areas and US$0.93/m³ in critical areas most affected by drought. The measure aims to encourage rainwater harvesting in order to preserve water tables. The charges will fall upon Maple Leaf Cement, Gharibwal Cement, Dandot Cement, Flying Cement, Askari Cement and Fauji Cement. They will remain in force until the establishment of a Punjab Water Services Regulatory Authority and its enactment of water extraction rates.

Pakistan: Fauji Cement recorded a net loss of US$354,000 in the 2020 financial year, which ended on 30 June 2020, compared to a profit of US$17.0m in the 2019 financial year. MarketScreener News has reported that sales fell by 18% year-on-year to US$103m from US$125m.

Pakistan: Fauji Cement has reported that its net profit fell by 88% to US$3.53m for the first nine months of its 2020 fiscal year, a period that ended on 31 March 2020. The company reported that its sales plunged, having previously made a net profit of US$32m in the first nine months of its 2019 fiscal year. Analysts reported that the company’s revenue saw a 2% year-on-year decline in sales to 0.71Mt during the nine-month period. Lower sales prices, currency depreciation and higher coal prices all contributed to the weaker performance.

Pakistan: Fauji Cement has reported a profit of US$1.23m in the second quarter of the 2020 fiscal year, between 1 October 2019 and 31 December 2019. This corresponds to a drop of 82% year-on-year from US$6.83m in the corresponding period of Pakistan’s 2019 fiscal year. The Express Tribune newspaper attributed the plunge to currency depreciation, lower retention prices and higher electricity tariffs. Sales in the three months to 31 December 2019 were US$34.4m, up by 5.5% year-on-year from US$32.6m to 31 December 2018.

The company said that the second quarter saw a 20% jump year-on-year in cement dispatches to 0.93Mt from 0.77Mt in the second quarter of the 2019 fiscal year. It expects a return to profitability in 2020.

Pakistan: Fauji Cement has installed a 12.5MW solar power plant at its Jhang Bahtar plant, near Islamabad. Business Recorder reports that Fauji’s is the world’s largest solar power station devoted to a cement plant, with 37,905 panels delivering an estimated annual total of 19,750MWh of energy.

Fauji has additionally installed two waste heat recovery plants of 12 and 9MW and two large reservoirs for water recycling and rainwater harvesting. Fauji is leading Pakistans’s Clean and Green initiative, having planted 25,000 trees and donated a further 40,000 plants to local government and nearby villages.

Pakisan: Fauji Cement has approved plans to set up a 12.5MW captive solar plant. The company operates a 3.4Mt/yr cement plant near to Attock in Punjab Province.

Pakistan: Lt Gen Tariq Khan has been appointed as the chief executive and managing director of Fauji Fertilizer Company, the owner of Fauji Cement. He succeeds Lt Gen Shafqaat Ahmed.

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.