Displaying items by tag: Pakistan
Pakistan: Lucky Cement increased its standalone first-half sales in the 2022 financial year by 20% year-on-year to US$2.87bn from US$2.39bn in the first half of the 2021 financial year. This was despite a 5.9% year-on-year decline in cement volumes to 4.7Mt. Domestic cement sales increased by 0.8% to 3.66Mt from 3.63Mt, while exports fell by 20% to 1.07Mt from 1.34Mt.
The Business Recorder newspaper has reported that the company increased its consolidated net profit by 27% year-on-year. Its consolidated profit after tax was US$972m in the first half of the 2022 financial year.
National Construction Association of Sri Lanka claims no checks carried out on cement imports
26 January 2022Sri Lanka: The National Construction Association of Sri Lanka (NCASL) claims that no quality control checks are being conducted on imports of cement. The association says that there are labels printed on cement bags confirming that they were quality checked by the Sri Lanka Standard Institute (SLSI) but that it has no evidence of such checks actually being carried out, according to the Sri Lankan Daily Mirror newspaper. It has asked for the authorities to show evidence that the quality control checks are actually taking place.
Sri Lanka faced a shortage of cement in the autumn of 2021 due to input cost rises, supply chain disruption and negative exchange rates effects. The NCASL reports that most cement imports come from India or Pakistan.
Power Cement signs solar power deal
12 January 2022Pakistan: 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.
Fauji Cement takes US$212m loan for cement plant expansions
06 January 2022Pakistan: Fauji Cement has taken out a loan of US$212m from a consortium lead by Habib Bank Limited. The Business Recorder newspaper has reported that the funding will go towards cement plant expansion projects with a total cost of US$339m. Fauji Cement plans to expand its plant in Dera Ghazi Khan, Punjab, while its subsidiary Askari Cement plans to expand its plant in Nizampur, Khyber Pakhtunkhwa. The company says that the projects will together increase its installed cement production capacity to 10Mt/yr.
Pakistan: All Pakistan Cement Manufacturers Association (APCMA) members dispatched 27.5Mt of cement in the first half of the 2022 financial year, down by 4.1% year-on-year from 28.6Mt in the first half of the 2021 financial year. The News International newspaper has reported that exports fell by 32%during the period to 3.39Mt from 5.02Mt.
Fauji Cement renews Qamar Haris Manzoor term as managing director
15 December 2021Pakistan: Fauji Cement has renewed Qamar Haris Manzoor as its managing director and chief executive officer (CEO). His current term will last three years until mid-December 2024. Qamar Haris Manzoor was first appointed as the head of the cement company in mid-2020.
Qamar Haris Manzoor holds over 33 years of experience in plant and project management. He started his career with ICI managing its soda ash plant operations subsequently working for Lotte Chemical, amongst other roles, where he eventually became its director of manufacturing. He later became the CEO of El Paso Technology Pakistan before following this with other leading roles at Hawa Energy and Naveena Group. He holds a master’s degree in chemical engineering from the University of Tennessee-Knoxville in the US in addition to management qualifications.
BHS-Sonthofen to supply six batch mixers to CEC-PowerChina and Pakistan Frontier Works’ Diamer-Basha dam site
13 December 2021Pakistan: BHS-Sonthofen (Tianjan) has reported the successful delivery of two of a total of six twin-shaft batch mixers to the site of CEC-PowerChina and Pakistan Frontier Works’ upcoming Diamer-Basha dam. The Chinese division of the Germany-based company is supplying four DKX 7.00 7m3/batch precast concrete mixers and two DKX 6.00 6m3/batch precast concrete mixers as part of the project. The mixers will contribute towards the 18.6Mm3 of mainly roller-compacted concrete required for the dam’s construction.
General manager Ronny Laux said “The hydraulically bound base layers required for the dam (also known as roller-compacted concrete) must withstand the heaviest of loads. Our mixers are designed to handle demanding mixing tasks. The twin-shaft batch mixers meet the highest demands for mix homogeneity and reproducibility, even with large quantities – ensuring optimum concrete quality.”
Pakistan: The government plans to raise the rate of federal excise duty for cement plants operating at less than 100% capacity utilisation. The Dawn newspaper has reported that the measure aims to reduce cement prices in the country. Taxes are currently US$8.55/t of cement produced. In the 2021 financial year, capacity utilisation was at 84% of the available 69.3Mt/yr total capacity. Since the 2017 financial year, it has dropped below 75% in some years. Over the five-year period, the national cement capacity has increased at an average of 8.6% annually.
Ministry of Finance spokesperson Muzzammil Aslam said “Who should we protect: consumers or cement makers? Is it not harmful for the country that they have joined hands and set a higher market price?”
Fecto Cement renews chief executive officer and chair
10 November 2021Pakistan: Fecto Cement has renewed Amir Ghani as its chair and Mohammed Yasin Fecto as its chief executive officer (CEO). Both positions will have a term of three years from the start of November 2021.
Ghani joined his family textile business in 1991 and is currently is a director in Ghani Dyings. He is a member of the Pakistan Hosiery Manufacturers Association and Karachi Chamber of Commerce and Industry. He holds a Master of Business Administration (MBA) from the University of Boston in the US.
Fecto was first appointed as the CEO of Fecto Cement in 1993 and has held the position since then. He holds a MBA from the Quaid-e-Azam University.
Pakistan: Members of the All Pakistan Cement Manufacturers Association (APCMA) plan to reduce the CO2 emissions from their cement production. The Business Recorder newspaper has reported that companies will take three routes to emissions reduction while continuing to meet increased demand. These are to increase the efficient use of materials, increase energy efficiency and employ new technologies to capture or eliminate emissions.
President Muhammad Ali Tabba said "In a bid to achieve green growth going forward, the cement industry globally will have to adapt to climate change challenges and rework business models to ensure environmental stewardship and robust growth. The cement industry in Pakistan is committed to playing its role."