Displaying items by tag: Pakistan

Pakistan: Lucky Cement has engaged telecommunications provider Zong 4G to supply its communication services. Pakistan Press International News has reported that the partners expect the collaboration to enhance Lucky Cement's operationality by addressing any connectivity issues.

Lucky Cement executive director Noman Hassan said "By harnessing the power of connectivity, we can identify opportunities to enhance our business operations."

Pakistan: Dewan Cement has appointed Hazrat Ali as its chief financial officer. He succeeds Imran Ahmed Javed in the role. The cement producer operates two plants.

Pakistan: Flying Cement plans to expand Line 2of its 1.2Mt/yr Lilla cement plant by 17% to 9000t/day. Mettis Global News has reported that the producer has already received clearance from the Punjab Environment Protection Agency for the expansion. The upgraded line will be operational from mid-late 2023.

Flying Cement will also establish a new 21MW captive power plant at the Lilla cement plant.

Pakistan: The Punjab Assembly has constituted a committee to review proposed plans for a new cement plant in Chakwal in the Province's Rawalpindi Division. Protestors have previously complained about plans to the Punjab Environment Protection Agency. The Dawn newspaper has reported that stated concerns include the threat to the local water supply, damage to future tourism promotion and possible harm to endangered species, including autochthonous wild sheep.

Pakistan: Lucky Cement has informed investors that it plans to buy back shares up to an equivalent of 3.1% of its registered share capital, which it has valued at US$417,000. The company will commence the purchase from 29 September 2022, and continue until its completion or 27 March 2023.

Pakistan: Fauji Cement recorded sales of US$226m during its 2022 financial year, more than double its US$101m-worth of sales recorded in its 2021 financial year. The company's net profit was US$29.6m, more than double its 2021 financial year profit of US$14.5m. Fauji Cement's cost of sales also more than doubled to US$166m from US$75.8m.

Pakistan: Lucky Cement has distributed ration bags, tents and first aid kits to victims of flooding Dadu, Khairpur, Sanghar and Uthal.

The Balochistan Times newspaper has reported that the company said “The immense destruction of houses and damages to crops caused by the floods, made victims homeless and they are now in the state of starvation.” It continued “In this time of crisis, Lucky Cement, Pakistan's largest cement manufacturer, has reached out to far-flung areas which were worst affected by the flash floods in North and South of Pakistan to provide relief to the victims.”

Pakistan: DG Khan’s revenue grew by 29% year-on-year to US$248m in the financial year to 30 June 2022 from US$193m a year earlier. Its profit for the year fell by 20% to US$12.7m from US15.9m. The main reason for the fall in profit was due to higher taxation in the reporting y

Pakistan: Cherat Cement expects cement consumption in Pakistan to fall by 3 – 4% year-on-year in the 2023 financial year, which will end on 30 June 2023. Amid the general decline, the company foresees a slight rise in areas devastated by recent flooding with the onset of repair and rebuilding works during the second half of the financial year. Exports are expected to fall by 20%, with prices remaining level while costs increase due to the high price of imported coal.

Pakistan Business News has reported that Cherat Cement is reappraising the investment cost and planned commercial operation date of its upcoming 8000 – 9000t/day new cement plant. It previously valued the project at US$158 – 173m.

Pakistan: Bestway Cement’s turnover grew by 21% year-on-year to US$460m in the financial year to 30 June 2022 from US$380m in the same period in 2021. Its operating profit rose by 32% to US$85.4m from US$64.4m. Its cost of sales increases by 23% to US$221m from US$180m.