Displaying items by tag: Fauji Cement

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.

Pakistan: Sinoma Energy Conservation Company has signed an agreement with Fauji Cement to install a 7.6MW waste heat recovery (WHR) plant. The agreement was signed by Sardar Mahmood Ali Khan, Director-General of Fauji Cement and officials of Sinoma in Rawalpindi, according to the Nation newspaper. The power plant will be installed by the end of the first quarter of 2018. Once the project is complete the cement producer will be able to produce 80% of electricity requirements from captive sources. Previously Fauji Cement installed a 12MW WHR plant in early 2015.

Pakistan: A raw meal silo has collapsed at the Fauji Cement Company plant at Tehsil Fateh Jang, Punjab. The structure containing 25,000t of raw material collapsed on 29 May 2016 also causing damage to the coal mill area of second production line. The company reported no casualties.

Fauji Cement has shutdown its 7200t/day second production line following the incident. It expects that the line will remain closed for approximately five to six months. However, dispatches out of stock will continue as the plant’s cement mills are operating normally. The plant’s 3700t/day first production line is currently undergoing planned maintenance and will resume production soon.

The cement plant’s second production line was completed and started in 2011.

Pakistan: Fauji Cement Company Limited's profit rose from US$5.71m to US$10.5m in the third quarter of 2015, which ended on 30 September 2015. Company revenue grew by 4.9% year-on-year to US$41.6m as local dispatches remained strong and prices remained intact.

"The result outperformed the market forecast for the quarter on the back of lower-than-anticipated cost of goods sold and financial charges," said Faizan Ahmed. "Resultantly, gross profits grew by 41% to US$18m. In addition, financial charges declined by 40% to US$1.88m due to deleveraging and monetary easing."

Pakistan: The inauguration of the Dasu dam has reinforced optimism in the local cement industry, which has been banking on the continuous increase in local demand owing to mega construction projects.

The Dasu dam, one of the mega dam projects, is expected to increase cement demand in Pakistan by 1Mt/yr for the next five years. The 4320MW dam will be completed in two phases at an estimated cost of US$4.8bn. Since the Dasu dam is located in the north, the cement for the project will most likely be procured from nearby cement plants. Cement companies like Maple Leaf, Fecto, Bestway, Cherat, DG Khan, Fauji are the most likely to benefit from the dam construction.

Analysts say the construction of big dams like Dasu and Basha will supplement the already improving cement demand in Pakistan. "Dasu dam will add an additional 1Mt/yr of cement demand, which will be significant for the local industries," said BMA Capital analyst Sajjad Hussain. "It will increase the already escalating cement demand in the country."

"The launch of the Dasu dam is important for the cement industry in northern region of the country," said Standard Capital Securities analyst Saad Hashmi. "Other major infrastructure projects that are expected to start soon will further increase cement demand and it may jump 5% in fiscal year 2015."