Displaying items by tag: Power Cement

Pakistan/UK: Power Cement successfully despatched its first shipment of cement to the UK in late December 2023. The company said that the move demonstrates its commitment to global expansion and positions it as a ‘formidable force’ in the international arena.

Export marketing director of Saifuddin Khan said “Entering the European market and exporting our cement to the UK is a testament to the high standards and excellence that Power Cement upholds. Power Cement can customise the packaging as per the requirements of the buyer, and we are excited about the opportunities this presents.” He added “We look forward to becoming a trusted partner in the UK’s construction sector and contributing to Pakistan’s economic progress through foreign exchange earnings.”

Pakistan: Power Cement has appointed Taha Hamdani as its chief financial officer. He succeeds Irfan Sikander Bawa in the post.

Pakistan: Power Cement has awarded a coal supply contract to Sindh Engro Coal Mining Company (SECMC) on a trial basis. The Dawn newspaper has reported that SECM's locally sourced coal may subsequently replace imported coal in cement production at Power Cement's Nooriabad cement plant in Sindh.

SECMC produces 3.8Mt/yr of coal from the Thar coalfield. It has an extraction capacity of 7.6Mt/yr, which it plans to increase by 61% to 12.2Mt/yr with a new expansion phase by June 2023. SECMC said that this will lower the price of its coal by 36% to US$27/t from US$42/t. Currently, only Afghanistan is exporting coal to Pakistan, at a price of US$166/t.

Thar coal has a relatively low heating value, including by comparison to Pakistani coal from the western provinces of Balochistan and Khyber Pakhtunkhwa.

Pakistan: Power Cement's sales rose by 23% year-on-year to US$78.3m in its 2022 financial year, from US$63.6m in its 2021 financial year. Nonetheless, it recorded a comprehensive loss of US$2.06m, compared to an income of US$1.58m in the 2021 financial year. The company's cost of sales rose by 35% to US$67.2m from US$49.8m.

Pakistan: Meezan Bank, an Islamic bank, and Burj Solar Energy (BSE) have announced the completion of a US$5m syndicated Islamic finance facility for BSE's portfolio of renewable distributed power generation in Pakistan.

A first tranche of US$3.2m will be used to finance the construction of a 7MW solar power plant for Power Cement on the Karachi-Hyderabad Motorway. The solar power plant will be rented to Power Cement under a 20-year equipment rental agreement to supply the company's cement plant in Nooriabad. It will generate 220GWh solar units for 20 years and, in addition to reducing cost of electricity, will offset 112,000t of CO₂ emissions. The project is expected to start generating power in July 2022.

Pakistan: Power Cement has appointed Irfan Sikander Bawa as its chief financial officer. He succeeds Tahir Iqbal.

Pakistan: Power Cement has received the International Standards Organisation (ISO)’s ISO 50001:2018 certification for the energy performance of its management systems.

The producer said “We are on a never-ending quest to improve the environment for future generations by promoting the usage of sustainable energy.”

Pakistan: Power Cement has signed an agreement with Burj Solar Energy for the procurement of electricity on a fixed tariff for the next 20 years. The supplier plans to build a 7MW solar power plant to support the deal. The unit is expected to be operational by mid to late 2022. Power Cement said it took the decision to cut growing electricity costs.

Pakistan: Power Cement says it has started commercial operation of its new 7700t/day clinker production line at its Nooriabad plant. It completed the procurement and installation of machinery for the new line in mid-2019. It was supplied by Denmark’s FLSmdith.

Pakistan: Power Cement has shutdown the older production lines at its integrated Nooriabad plant due to falling demand and prices. Chairman Nasim Beg said that the old lines were shut because they were ‘inefficient’ and not competitive under present conditions, according to Bloomberg. The plant had a production capacity of around 3150t/day from its older lines. In July 2019 it completed the installation of a new 2.46Mt/yr clinker line supplied by Denmark’s FLSmidth.