Displaying items by tag: Lucky Cement

Pakistan: Lucky Cement has reported a 303% increase year-on-year in its unconsolidated profit after tax (PAT) in the first nine months of the 2021 Pakistan fiscal year, a reporting period that ran from 1 July 2020 to 31 March 2021. Its PAT for the period was US$72.6m, compared to just US$18.9m in the same period of the prior fiscal year. Lucky Cement’s net sales for the nine month period came to US$306m compared to US$208m a year earlier. Its net sales for the January-March 2021 quarter increased to US$111m form US$71.6m in the same period of 2020.

Iraq: Lucky Cement has started commercial cement production at its 1.2Mt/yr integrated Samawah cement plant. The News International newspaper has reported that the plant brings the company’s overseas installed cement production capacity to 4.1Mt/yr. It operates the 1.7Mt/yr Basra grinding plant in Iraq and a 1.2Mt/yr integrated cement plant in the Democratic Republic of Congo.

The company said, “Despite the impacts of Covid-19 pandemic, the project has successfully achieved its milestones on time.”

Pakistan: Lucky Cement plans to further upgrade its integrated Pezu plant following strong results in the first half of its financial year. It intends to increase the production capacity at the unit by 3.15Mt/yr. The cost of the project will be announced following the conclusion of negotiations with suppliers. Work is expected to start in 2021 and be completed in 2023.

The cement producer recorded sales of US$188m in the first half of its 2021 financial year (1 July 2020 – 30 June 2021), up by 42% year-on-year from US$132m in the first half of its 2020 financial year. Cement and clinker sales volumes grew by 36% to 5Mt from 3.7Mt. Its profit after tax more than doubled to US$28.3m from US$12.1m. It attributed this to higher production capacity at its Pezu plant as well as higher demand in the market generally.

Lucky Cement also reported that its new 1.2Mt/yr integrated plant at Samawah in Iraq started its kiln in the first week of January 2021 and trial production started in mid-January 2021. Commercial production is scheduled to start in February 2021.

Pakistan: Lucky Cement has won an award for use of modern technology to control fire accidents and save lives at the Fire and Safety Awards 2020, organised by the National Forum of Environment and Health. The Frontier Post newspaper has reported that the company is an ISO-9001, ISO-45001 and ISO-14001 certified health and safety leader. The cement producer’s chief operating officer (COO) Amin Ganny said, “At Lucky Cement, we ensure a safe and secure environment for all of our employees and stakeholders associated with our business operations directly or indirectly.”

Pakistan: Lucky Cement has placed an order for three 10MW 34DF dual-fuel engines for its Pezu cement plant in Khyber Pakhtunkhwa province from Finland-based Wärtsilä. The engines are capable of operating on various fuels but will be fuelled primarily by natural gas. They have been ordered to provide additional power for the unit’s captive power plant due to an increase in cement production capacity. The orders were placed in April, August, and November 2020. No value for the order has been disclosed.

“It is important for large cement producers to have operational flexibility to run the power plant on multiple fuels in case the gas supply is interrupted, or whenever otherwise required. Wärtsilä’s multi-fuel power generating technology provides the kind of flexibility that we need for an efficient and reliable power supply. The cement plant is relying purely on the power plant with Wärtsilä gensets supplying the power,” said Syed Noman Hasan, executive director at Lucky Cement.

In addition to the engines, Wärtsilä is also supplying waste heat recovery boilers needed to generate steam required for the steam turbines for electricity generation in combined cycle mode. The first Wärtsilä engine is being delivered in November 2020 and is expected to become fully operational in January 2021. The remaining two engines will be delivered by March 2021 and will become operational in May 2021.

The cement plant already uses ten Wärtsilä dual-fuel engines in its on-site power plant. The need for the new engines follows on from an increase in cement production capacity.

Pakistan: Lucky Cement chief executive officer (CEO) Muhammed Ali Tabba has praised the government’s decision to lift coronavirus lockdown restrictions on the export of products. As a result, he predicted that the rate of export growth would increase in 2020. The Balochistan Times newspaper has reported that Tabba also welcomed the end of restrictions on construction, and thanked the State Bank of Pakistan for subsidising payrolls during the on-going national coronavirus lockdown and the Ministry of Finance for releasing business refunds quickly.

Tabba said, “The country has benefited greatly from the way the Pakistan Tehreek-e-Insaf (PTI) government has won the war against a pandemic like Covid-19.”

Pakistan: Lucky Cement recorded a profit of US$13.8m in the first quarter of the 2021 financial year, which begun on 1 July 2020, up by 130% year-on-year from US$5.95m in the first quarter of the 2020 financial year. Net sales rose by 49% to US$89.0m from US$59.8m The cement producer said that the rise resulted from, “a massive recovery in margins amid improvement in retention prices and robust off-take.”

The company added that its upcoming 1.2Mt/yr integrated Samawah cement plant in Iraq is on schedule to begin commercial production in December 2020.

Pakistan: The Sindh Environmental Protection Agency (SEPA) has arranged hearings on 21 October 2020 over alleged environmental protection regulation violations by Dewan Cement and Lucky Cement at their respective Kamilpur and Karachi cement plants in the province. The provincial agency, “has expedited its monitoring activities throughout the province to manage different types of pollution at their source.”

Pakistan: Asiamoney has named Lucky Cement as most outstanding in the cement producers category of Pakistan’s Most Outstanding Company 2020 following a national poll. The Pakistan Observer newspaper has reported that “the aim of this poll is to identify and give recognition to Asia's most outstanding listed companies in each market and sector.”

Pakistan: Lucky Cement has partnered with Hunar Foundation to launch scholarships for dedicated vocational training programmes for eligible young people in Lakki Marwat District, Khyber Pakthunkhwa Province. The Daily Messenger has reported that the company said that the scheme aims to “empower the youth of Pakistan through skill development.”