Lucky Cement plans new investment
Published by Katherine Guenioui,
Editor
World Cement,
Lucky Cement has announced plans to build a 2.3 million tpy greenfield cement plant in central Punjab. The plant is expected to begin construction in 1Q16 and commence operations in 2Q18. It will reportedly cost some US$200 million. The decision to make the investment was driven by the expected growth in infrastructure projects resulting from the China-Pakistan Economic Corridor initiative.
The announcement was made together with the company’s quarterly results for the July – September quarter (1Q16). Lucky Cement reported an 11.2% increase in net profit, at Rs.2.97 billion. Overall sales volumes declined 2.7% to 1.56 million t from 1.61 million t in 1Q15 in spite of an 11% increase in local sales volumes. Export sales volumes fell 23.2% to 0.49 million t. As a result, net sales revenue fell 1.2% to Rs.10.34 billion.
Edited from various sources by Katherine Guenioui
Sources:
Read the article online at: https://www.worldcement.com/asia-pacific-rim/30102015/lucky-cement-plans-new-investment-882/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
Shaping The Future Through Shredding
Gary Moore, UNTHA Shredding Technology GmbH, highlights the global momentum behind alternative fuels and the role of advanced shredding in shaping cement’s low-carbon future.
