tag:blogger.com,1999:blog-5848640164815342479.post3352309075676836395..comments2024-03-27T15:36:44.737-07:00Comments on Haq's Musings: Credit Suisse Bullish on Pakistan Cement Sector Riaz Haqhttp://www.blogger.com/profile/00522781692886598586noreply@blogger.comBlogger147125tag:blogger.com,1999:blog-5848640164815342479.post-26732664905370688532022-02-23T11:11:52.531-08:002022-02-23T11:11:52.531-08:00New Faldo #golf course in #Pakistan set for offici...New Faldo #golf course in #Pakistan set for official opening in #Multan. The layout, which is over 7,500 yards from the back tees, has 3 distinct sections, characterised by desert, trees & a water storage lake in the middle. #Sports #Recreation #Punjab<br /><br />https://www.golfcoursearchitecture.net/content/new-faldo-course-in-pakistan-set-for-official-opening<br /><br />Rumanza Golf Club in Multan, Pakistan, will officially open its new Faldo Design course this week.<br /><br />The club, part of a new 9,000-acre community developed by the Defence Housing Authority of Multan, will also have a six-hole par-three layout and a practice range.<br /><br />“The course should challenge the top players from the back tees but be eminently playable for all other standards of golfer from the other tees,” said Andy Haggar, lead architect at Faldo Design. “The forward tees will make the course short enough for beginners and juniors. Fairways are quite generous to help golfers keep the ball in play, whilst at the same time, the shaping of the fairways and placement of the hazards challenge the better players to put the ball in the right place.<br /><br />“The greens are designed within the entire strategy of the hole they belong to. Often the strategy of the hole is created with the green’s design as the starting point. Here, each green features a range of pin placements that will be either hard, medium or easy. There is noticeable movement in the greens, but the surface areas are large enough to accommodate that movement. As with the fairways, it is about being in the right place on the green to give yourself the best chance of a good score.”<br /><br />The layout, which is over 7,500 yards from the back tees, has three distinct sections, characterised by desert, trees and water. The latter revolves around a water storage lake at the centre of the course.<br /><br />Faldo Design has worked with GEO Foundation to make the development sustainable. The design team has for example, retained existing fruit trees and deras (mud brick dwellings) to ensure the course has a strong local identity.<br /><br />Read more: “The closing three holes will be spectacular,” Haggar told GCA during construction in 2020.<br /><br />“On the playing side, we wanted to create an interesting, strategic and memorable golfing experience,” said Haggar. “Once we had scraped off the top surface of material on this very flat site, we found pure sand. That moved us towards creating something of an inland links-style golf course. Alongside some links-like shaping, revetted bunkers seemed the obvious choice.<br /><br />“The bunkers are revetted in traditional style using EcoBunker, with turf rolled down over the edge. We also used EcoBunker to create a revetted edge to certain sections of the waste areas adjacent to the fairways, which provides another nice feature of the course, and which complements the bunkering.”<br /><br />Sir Nick Faldo will, along with tour pros Rafa Cabrero-Bello, Charley Hull, Graeme McDowell and Mel Reid, attend the official opening event on 25 February.<br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-17397143148725967602017-11-18T16:56:33.309-08:002017-11-18T16:56:33.309-08:00Pakistan cement sales rise in first quarter but ex...Pakistan cement sales rise in first quarter but exports down<br /><br />05 October 2017<br /><br />http://www.globalcement.com/news/itemlist/tag/All%20Pakistan%20Cement%20Manufacturers%20Association<br /><br />Pakistan: Cement sales rose by 15% year-on-year to 10.3Mt in the first quarter of the local financial year that ended in September 2017 from 9Mt in the same period in 2016. However, the export part of this figure fell by 16.7% to 1.29Mt, according to the All Pakistan Cement Manufacturers Association (APCMA). Exports fell faster in the south of the country, where the country’s ports are based, with a significant drop in seaborne trade.<br /><br />“Robust construction activities within the country are supporting the cement sector, but it is still sitting on some idle capacity that could be exported through government facilitations like sharing the transport cost,” said the APCMA to the Nation newspaper. It added that the government should cut duties on cement to encourage the residential sector.<br /><br />The All Pakistan Cement Manufacturers Association (APCMA) struck a triumphant note this week as it announced that its industry has over 26Mt/yr of capacity upgrades in the pipeline. Its chairman Sayeed Saigol concluded in a press release that the country’s growth trend required ‘massive’ investment and that its producers were working on it.<br /><br />Graph 1 shows how the local industry has changed since 2009. At this time exports hit a high of over 11Mt, constituting 34% of all cement despatches at the time. Since then though exports have fallen to below 6Mt or 14% of despatches, as local despatches have started to increase. Although local despatches have risen each year, the growth rate was below 1% in 2011. In 2016 it was over 14%.<br /><br />Much has changed since 2010. At this time production capacity hit a high of 45Mt/yr in the 2009 – 2010 Pakistan financial year, according to APCMA data, but then utilisation sunk to below 73%, its lowest rate in over a decade. Pakistan’s cement producers sought a way out by exporting their cement. Export volumes subsequently exploded to a high of nearly 11Mt in 2008 – 2009 from next to nothing at the turn of the millennium.<br /><br />The effects of this had particular repercussions in eastern and southern Africa as local producers suffered against seaborne imports. In 2012 the outgoing chief of South Africa’s PPC summarised the problem by saying that imports were not a threat to African expansion, provided that a cement plant was not built within 200km of a port. Rightly or wrongly cement from Pakistan was vilified by the African press and then legislated against. South Africa even implementing anti-dumping duties to howls of derision from Pakistan.<br /><br />Funnily enough though the APCMA has recommended that Pakistan’s government do exactly the same thing against imports of cement from Iran. Industry scare stories about Iranian cement being sold illegally in Pakistan have circulated since at least 2012. Iran’s nuclear deal in 2015 must have worried the local industry, as the prize for Iran was the lifting of international sanctions making it easier for one of the world’s largest cement producers to start exporting its product. However, president-elect Trump’s disdain for the Iran deal may put those worries to rest if the deal is ‘cancelled’.<br /><br />Back to the present, the Pakistan cement industry appears to be booming. One motor is the China–Pakistan Economic Corridor, a collection of infrastructure projects worth US$54bn. There is some disagreement at this point about how the usage levels of cement breakdown, with the chief executive of Thatta Cement placing it at 60% for infrastructure and 40% for housing but with other commentators placing it at 70% for housing and 30% for infrastructure. If the latter is true then Pakistan’s cement producers may receive an even bigger payday. The emphasis on housing shouldn’t be underestimated though as the country’s production capacity per capita, below 200kg/capita, is low by international standards. Either way, things are looking good for the local producers.Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-43620385318058712832017-08-03T07:50:27.490-07:002017-08-03T07:50:27.490-07:00(Pakistan Cement) Industry data on Wednesday showe...(Pakistan Cement) Industry data on Wednesday showed that local cement sales rose 10.4 percent to 36.4 million tonnes during the last fiscal year, while exports sharply fell 22.8 percent to 4.5 million tonnes. <br /><br />https://www.thenews.com.pk/print/214600-Cement-sales-up-54pc-to-409MT<br /><br />Cement industry witnessed a 5.4 percent surge to 40.9 million tonnes in its sales during the last fiscal year of 2016/17 as local construction sector boomed to have broken its annual growth record of the past five years. <br /><br /><br />Analyst Nabeel Khursheed at Topline Research attributed the double digit growth in local sales for the second year in a row to ongoing residential construction projects and infrastructure development under China-Pakistan Economic Corridor (CPEC).<br /><br />Khursheed said the government released Rs715 billion under public sector development programme for FY17, 90 percent of the total allocation, “which bodes well for the construction sector.”<br /><br />Industry’s annual capacity utilisation reached 89 percent, a rate that was last achieved in the fiscal year of 2005/06. The capacity utilisation stood at 85 percent in 2015/16.<br /><br />Construction sector reported 9.1 percent growth in FY17, while annual growth for the last five years (FY12-16) growth averaged at 6.3 percent. Credit offtake in construction sector was up 40 percent to Rs129 billion in the last fiscal year over the previous year.<br /><br />Stock analyst said exports fell short of expectation due to manufacturers’ increased focus to local market, tapering export to Afghanistan, which consumes 40 percent of Pakistan’s cement outflows, and competition from the Iranian substitute.<br /><br />Sales from cement factories located in north region increased 10 percent in FY17 to 29.817 million tonnes, while cement makers based in south recorded 11 percent growth in sales to 6.594 million tonnes. <br /><br />Exports of north as well south cement mills decreased 16 percent to 2.889 million tonnes and 33 percent to 1.643 million tonnes, respectively. <br /><br />In June, cement sales remained flat at 3.354 million tonnes as compared to the same month a year earlier, while export fell 10 percent over May. <br /><br />“The decline in monthly sales figures is due to slowdown in construction activities during Ramazan coupled with the prolonged Eid holidays,” said Fatima Mohsin Ali, an analyst at Taurus Securities Ltd.<br /><br />Generally, growing local demand gave a leeway to cement markers to increase prices and avert the pressure built due to high coal prices previously. <br /><br />“Players were able to pass on the impact of federal excise duty (FED) by increasing prices by additional Rs15-20/bag thanks to robust demand outlook,” Khursheed said. “We believe if demand remains strong, pricing arrangement will continue.”<br /><br />Government raised FED on cement to Rs1.25/kg from Re1/kg in the budget announcement for the current fiscal year of 2017/18.<br /><br />International coal prices averaged $76/tonne as compared to its peak of $91/ton in November 2016.<br /><br />Market researchers said cement mills based in north region factored in FED impact by pushing up prices by Rs15 to 20/bag to Rs545 to 575/bag. Prices in southern region are still hovering between Rs560 and 585/bag. <br /><br />Ali expected an upward revision in cement prices by southern players too in the next one week, “settling in the range of Rs575 to 600/bag.”<br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-13782165950592931432016-09-29T18:22:55.247-07:002016-09-29T18:22:55.247-07:00Real Estate is a promising and growing sector of t...Real Estate is a promising and growing sector of the Pakistani economy. Pakistan spends $5.2 billion on construction in a year and according to the Pakistan Bureau of Statistics, construction output accounts for 2% of GDP.<br /><br />With the rate of urbanization that Pakistan has been experiencing, there is a growing need for urban planning. Pakistan is home to Asia's largest real estate investors Bahria Town.<br /><br />---<br /><br />---<br />Former chairman and present consultant of Bahria Town, Malik Riaz Hussain has signed an agreement with His Highness Sheikh Nahyan bin Mubarak al Nahyan, Chairman Abu Dhabi Group, Union National Bank and United Bank Limited under which $45 billion will be invested in Pakistan.<br /><br />---<br /><br />The top players in the real estate industry are undoubtedly the DHA and Bahria Town. The latter has played a pioneering role in commercializing the real estate development and establishing it as a formal sector. Now the real estate investments come under the tax net. Similarly, DHA is also a top notch housing society. It is well-engineered and has state-of-the-art infrastructure facilities such as schools, colleges, universities, hospitals, cinemas, parks, marriage lawns, clubs, security management and traffic control system etc. Furthermore, the earthquakes in Pakistan have brought to the attention of regulatory bodies and the end consumers the need for enforcement of building codes and quality construction practices. According to survey of some Pakistani property portals including lamudi.pk, Homespakistan.com and Pakistan real estate.net interviewed several buyers of residential homes and commercial buildings and confirms that they prefer quality designing rather than cheaper and casually designed units. Hence, this makes it a perfect case to invest in the booming real estate sector of Pakistan.<br /><br />Real Estate Investment Trust<br /><br />Investors piled into Pakistan’s first real-estate investment trust, which was launched this year with a public offer that was heavily over-subscribed, the REIT’s lead manager and analysts said on Thursday.<br /><br />The Dolmen City REIT offered investors a 25% stake in a 22.24 billion rupee ($218.5 million) shopping mall and an office complex at Dolmen City, one of the most prominent real estate developments in Karachi, Pakistan’s largest city and its economic hub. The Arabian Sea-front project includes three other structures not included in the REIT.<br /><br />Traders and the REIT’s main advisor said the initial offer for 75% of the trust to institutional investors and high net-worth individuals through book building on Monday and Tuesday drew demand of more than 7 billion rupees for an offering of shares worth 4.17 billion rupees at a floor price of 10 Pakistani rupees ($0.10). At the strike price, the initial offer raised 4.59 billion rupees, according to the REIT’s lead manager.<br /><br />The remaining 25% of the stake was to be offered to the public on Friday at a strike price of 11 rupees ($0.11). Analysts and the REIT’s management expected the Friday offering to be fully subscribed as well, raising another 1.53 billion rupees.<br /><br />“The interest rate is at a 42-year low, with the discount rate at 7%, so for people who invest in fixed-income instruments, REITs are attractive,” said Muhammad Tahir Saeed, deputy head of research at Topline Securities, a Karachi-based brokerage.<br /><br /><br /><br />https://www.linkedin.com/pulse/real-estate-pakistan-spends-52-billion-construction-year-safwat-zakiRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-57323406207125069892015-10-18T21:53:01.655-07:002015-10-18T21:53:01.655-07:00From Global Cement:
Quoting a recent study, Alam ...From Global Cement:<br /><br />Quoting a recent study, Alam said that the per capita cement consumption in Bangladesh was still low at 107kg, compared to 210kg in India, 265kg in Pakistan, 310kg in Sri Lanka and 570kg in Korea, indicating future growth of Bangladeshi cement consumption.<br /><br />http://www.globalcement.com/news/item/3426-mi-cement-to-add-new-unit-soonRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-90891294798891635442015-08-31T21:39:27.417-07:002015-08-31T21:39:27.417-07:00Pakistan’s Lucky Cement Ltd. is close to winning a...Pakistan’s Lucky Cement Ltd. is close to winning a permit to extract limestone in Punjab province, signaling expansion plans by the nation’s largest maker of the building material by market value.<br />The company will get a limestone quarry for a cement plant in Punjab, and the local administration has approved the deal, said Arshad Mehmood, secretary for Punjab’s mines and minerals department. An agreement is expected to be signed in the next few days, he said.<br />The Karachi-based cement maker is set to join producers including Attock Cement Pakistan Ltd. and D.G. Khan Cement Ltd. that have announced expansion plans as Prime Minister Nawaz Sharif looks to boost infrastructure spending.<br />“Everything is positive for construction,” Bilal Khan analyst at Karachi-based Global Securities Pakistan Ltd., said by phone. “If growth stays at the same pace, the person who decides to expand today is the winner.”<br />Sharif is seeking to accelerate growth in the $247 billion economy to the fastest pace since 2008 with the spending, while China and Pakistan have announced a 3,000-kilometer, $46 billion economic corridor, which includes roads, ports, power plants and dams.<br />Lucky Cement’s shares have advanced about 50 percent in the past year, outperforming the 21 percent gain in the benchmark KSE100 Index. Shares fell 1 percent to 523 rupees as of 10:21 a.m. local time. They rose to a record last month.<br />The company operates two plants at 85 percent of capacity in Pakistan. It also has a cement grinding facility in Iraq and is part of a venture that will build a cement plant in the Democratic Republic of Congo.<br /><br />http://www.bloomberg.com/news/articles/2015-08-31/pakistan-s-biggest-cement-maker-to-get-mine-permit-for-expansionRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-36630129008649464872015-06-13T21:42:14.768-07:002015-06-13T21:42:14.768-07:00Investors snap up #Pakistan's first real-estat...Investors snap up #Pakistan's first real-estate investment trust (Dolman City #REIT); Will boost #Karachi real estate http://on.wsj.com/1GyBSdX <br /><br />Investors piled into Pakistan’s first real-estate investment trust, which was launched this week with a public offer that was heavily over-subscribed, the REIT’s lead manager and analysts said on Thursday.<br /><br />The Dolmen City REIT offered investors a 25% stake in a 22.24 billion rupee ($218.5 million) shopping mall and an office complex at Dolmen City, one of the most prominent real estate developments in Karachi, Pakistan’s largest city and its economic hub. The Arabian Sea-front project includes three other structures not included in the REIT.<br /><br />Traders and the REIT’s main advisor said the initial offer for 75% of the trust to institutional investors and high net-worth individuals through bookbuilding on Monday and Tuesday drew demand of more than 7 billion rupees for an offering of shares worth 4.17 billion rupees at a floor price of 10 Pakistani rupees ($0.10). At the strike price, the initial offer raised 4.59 billion rupees, according to the REIT’s lead manager.<br /><br />The remaining 25% of the stake was to be offered to the public on Friday at a strike price of 11 rupees ($0.11). Analysts and the REIT’s management expected the Friday offering to be fully subscribed as well, raising another 1.53 billion rupees.<br /><br />“The interest rate is at a 42-year low, with the discount rate at 7%, so for people who invest in fixed-income instruments, REITs are attractive,” said Muhammad Tahir Saeed, deputy head of research at Topline Securities, a Karachi-based brokerage.<br /><br />Pakistan’s economy has improved in recent years, despite political turmoil, major security challenges, and chronic electricity shortages that have hobbled industry. The country’s main stock market in Karachi has gained 72% since the 2013 election and the country’s improving prospects are increasingly being recognized internationally. Prime Minister Nawaz Sharif’s government has said boosting investment is one of its key economic objectives.<br /><br />With both buildings in the Dolmen City REIT fully occupied, it is expected to yield 9.5% in the first year, with a 10% increase every year based on escalation clauses in tenancy agreements. The development is located next to two of Karachi’s most affluent residential areas.<br /><br />The Dolmen Mall Clifton, Pakistan’s largest shopping mall, currently has an occupancy rate of over 90%, according to a fact sheet provided by the REIT management. The mall has 130 stores, including foreign outlets such as Debenhams DEB.LN -1.13%, and a multi-level department store.<br /><br />The neighboring Harbour Front office complex is currently fully occupied, with several high-profile tenants like Procter & Gamble and Engro, one of Pakistan’s largest corporations.<br /><br />Pakistan’s commercial property sector was described in a first-quarter report this year by Lamudi Pakistan, an online real estate portal, as “almost at a standstill”. But analysts said investors in Pakistan are still keen on real estate as a long-term asset, particularly in properties such as Dolmen City’s Harbour Front with high-profile corporate tenants.<br /><br />“In the long term there are significant opportunities as prices are low, meaning potential yields are high, and there is considerable room to expand and modernize Pakistan’s stock of commercial real estate,” BMI Research said in a report on the country’s real estate sector earlier this year.<br /><br />Analysts said the success of the Dolmen City REIT could boost interest in the instrument.<br /><br />“People were looking at Dolmen and expecting that, if it succeeds, many REITs will be launched in the coming years [in Pakistan],” said Saeed of Topline Securities. “I can foresee some groups [developing shopping malls] jumping into this asset class.”<br /><br />http://blogs.wsj.com/frontiers/2015/06/12/investors-flock-to-pakistans-first-real-estate-investment-trust/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-72440521750106346872015-02-16T09:40:19.774-08:002015-02-16T09:40:19.774-08:00Domestic cement sales are up 9% year-over-year for...Domestic cement sales are up 9% year-over-year for the first 7 months of Pakistan's Fiscal 2014-15, according to media reports. Overall, cement industry reports cement shipment of over 20 million tons in 7 months, a 6% annual increase with rising domestic demand offsetting falling exports due to weakness abroad.<br /><br />Market capitalization of Pakistani cement companies has jumped 70% last year, about 3 times more than the KSE-100 market index which rose 27% in 2014. This is the third consecutive year that cement companies have outperformed the broader market. Investors in Pakistan's cement sector have seen 600% rise in the last three years.<br /><br />It appears that construction sector is getting a boost from falling inflation and declining interest rates with a big drop in world oil prices.<br /><br />http://www.riazhaq.com/2015/02/record-cement-sales-raise-hopes-of.htmlRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-84933190005981686492015-02-12T08:02:05.813-08:002015-02-12T08:02:05.813-08:00With over 6% growth in sales in the first seven mo...With over 6% growth in sales in the first seven months of the current fiscal year, analysts say the cement industry is set to post highest-ever growth rate in the last five years.<br />This growth is more important for the cement industry officials as it is mainly based on local sales unlike the pre-2010 period when the industry used to equally rely on exports.<br />“Cement industry’s domestic sales have surprised everyone and the growth has surpassed all market estimates. Industry is likely to grow over 6% as it has risen in the first seven months (Jul-Jan 2014-15),” industry analyst Saad Hashmi commented.<br />Average growth in cement production was just 2.9% in the last three years. However, cement sales have shown an exceptional 6.2% growth in the first seven months in fiscal year 2015. Even if the industry succeeds in maintaining the current growth at the end of the fiscal year, it will be the highest expansion rate in the last five years.<br />Cement production posted the highest-ever number of 34.28 million tons in the last fiscal year 2013-14. Dispatches increased to 20.02 million tons during the first seven months of 2014-15 compared to 18.86 million tons in the same period of previous fiscal year. This means the industry can touch 36.6 million tons by the end of June 2015 if it grows at the current pace of 6.2%.<br />In all likelihood, Hashmi said the cement industry will succeed in maintaining 6% growth because the remaining five months (February to June) are all those in which the construction activity remains high.<br />Owing to the continuous decline in cement exports over the last five years, the industry is increasingly dependent on local sales. The impact of the rise in domestic consumption is so strong that while issuing the latest data, the spokesperson for the All Pakistan Cement Manufacturers Association recently claimed, “higher cement uptake depicts a turnaround in the economy.”<br />Commenting on the ‘immense satisfaction’ of the industry from rising domestic demand, he said cement companies have been reaping the benefits of record low international coal prices that have significantly reduced the cost of production.<br />Construction sector<br />Association of Builders and Developers Pakistan (ABAD) former senior vice chairman Saleem Kassim Patel told The Express Tribune that the private sector is showing a strong growth, which is one of the main causes of high cement consumption in the country.<br />“There is a huge backlog of houses, which is why this sector will continue to attract investments. What is more important is that the current rise in construction activities can turn around the economy if the government starts supporting it,” said Patel.<br />However, one of the biggest hurdles to the fast growth of the construction sector is the moratorium on new gas connections for high-rise buildings. Without gas, thousands of already constructed residential buildings are still unoccupied, causing financial losses of millions of rupees to the builders and their clients, he added.<br />Owing to the growing shortage of gas, the PPP-led previous government banned all new gas connections to CNG stations, high-rise buildings and industries in 2011. Since then, builders and developers say the ban has been proving damaging for new investments in this sector.<br /><br />http://tribune.com.pk/story/833623/cement-industry-sector-likely-to-post-highest-ever-sales/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-39171441966865970512015-01-12T09:54:11.456-08:002015-01-12T09:54:11.456-08:00FOR the calendar year 2014, the cement sector, wit...FOR the calendar year 2014, the cement sector, with a market capitalisation of Rs295bn, provided a 70pc return to equity investors — far more than the benchmark KSE-100 index’s return of 27pc.<br /><br />It marked the third consecutive year where the sector outperformed the broader market. Among cement companies, Kohat Cement Company (KOHC) provided the third-highest return of 97pc, after Pioneer Cement’s 135pc and Lafarge Pakistan’s 134pc.<br /><br />Nabeel Khursheed, an analyst at Topline Securities, attributed Kohat’s performance to ‘improved production efficiency and swift deleveraging’.<br /><br />Aizaz Mansoor Sheikh, the company’s CEO, told shareholders that KOHC’s pre-tax profit had grown 20pc to Rs4.38bn in FY14, from Rs3.77bn in the previous year. “Stable coal prices, better cement rates in the local market and growth in dispatch volumes contributed towards improved profitability,” he said.<br /><br />And Kohat Cement is looking forward to the installation of a 15MW waste heat recovery plant (WHRPP), which is expected to mitigate the rising electricity costs. “The WHRPP is currently under construction, with a projected completion date of June 30, 2015,” the CEO said.<br /><br />Despite all that, sounds reverberated in the market of spanners being thrown in the works of KOHC. Most sector analysts delivered the bad news of mine owners moving a petition in local courts against the company for non-payment of their dues, which was said to have led to a ban on excavation of essential minerals by the company.<br /><br />However, the investor panic subsided on Friday afternoon following a clarification by KOHC’s company secretary, Khurram Shahzad, who said in a filing with the stock exchange that “the company has valid leasing rights from the KP government for the excavation of minerals from the leasehold land against payment of royalty and excise duty to the government…. At the present point in time, no stay orders are in the field debarring the company to exercise its valid and legal rights for the excavation of the materials”.<br /><br />And the company assured investors: “The management is expecting cement dispatches [to] resume at their desirable level from next week”.<br /><br />Waqar Uddin Salim, an analyst at Summit Capital, anticipates KOHC’s profitability to rise to Rs3.75bn in FY15. The industry’s dynamics remain healthy, with the Topline analyst anticipating cement sales to grow 6.8pc annually in the next three years to reach 21.8m.tonnes by FY17 and exports to rise to 7.9m tonnes per annum. The industry’s capacity utilisation is expected to mount to 89pc.<br /><br />Meanwhile, Kohat has witnessed a big deleveraging in its balance sheet, with the ratio of long-term debt to total assets dropping to just 1pc in FY14, from a tall 35pc in FY10, and has room to increase capacity utilisation.<br /><br /><br />http://www.dawn.com/news/1156354/storm-in-a-teacupRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-29421612768707553422014-11-12T20:46:50.040-08:002014-11-12T20:46:50.040-08:00Pakistani cement sales volumes up almost 9% in fir...Pakistani cement sales volumes up almost 9% in first 4 months<br /><br />In Pakistan, cement sales have reportedly grown 8.87% in the first four months of the current fiscal year, reaching more than 8 million t. Customs Today reports that overall exports decreased y/y to 2.79 million t, a 4.43% drop.<br /><br />There is something of a north/south divide in sales, with the northern region seeing a 10.4% gain in domestic sales but a 12.3% drop in exports, while southern cement producers reported a much smaller increase in domestic sales but a 12.5% increase in exports.<br /><br />The All Pakistan Cement Manufacturers Association has reportedly claimed that government inaction has impeded industry growth. Fuel and power cost increases have put pressure on companies’ margins, as shown in the quarterly results reported last month. Increased taxes were also reported as an issue affecting the companies’ bottom lines.<br /><br />http://www.worldcement.com/news/contracts/articles/Pakistani-cement-sales-volumes-up-almost-9-percent-in-first-4-months-838.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-15397378105317957962014-10-25T11:10:38.050-07:002014-10-25T11:10:38.050-07:00LAHORE: The cement industry of Pakistan is one of ...LAHORE: The cement industry of Pakistan is one of the main stream sectors that generates foreign exchange for the country due to its certified quality.<br />The main reason why Pakistani cement is preferred by other countries is due to the abundance of its basic raw material, limestone. However, the country is still far behind in introducing different varieties of cement to be used in different categories. The most commonly used cement is the Ordinary Portland Cement (OPC) in order to meet all construction requirements.<br />“The construction sector is expanding and there is dire need to introduce new cement qualities in Pakistan for better efficiency and cost reduction,” said Nabeel Asghar, head of project and operations, Technology Up gradation and Skill Development Company (TUSDEC), while talking to The Express Tribune.<br />Tusdec is operating a subsidiary – Cement Research and Development Institute – through which it is testing the quality of cement and allied materials. The institute was established in 1983 by the State Cement Corporation, at that time primarily for the Kalabagh Dam. Inauspiciously, the institute started lurking into dormancy and was looming in abjection in 2005, when Tusdec was entrusted with its operations on January 2006.<br />The institute after its re-launch was primarily testing different samples from cement manufacturers, contractors and consultants for quality certifications, however, the institute started testing samples to introduce Blended cement, and Fly-Ash cement.<br />Though blended cement is being manufactured in Pakistan by a single manufacturer, but at large, the contractors of mega projects mix other materials in OPC for mega structures, like dams, bridges, highways etc.<br />“For instance if we talk about the overall housing industry, contractors widely use OPC for constructing walls, and for renovating them,” Asghar said, adding that very few know that in the modern world Masonry cement is used for wall furnishings since low level cement is required.<br />Counterfeiting the impact of its strengths, the cement industry of the country is lagging behind when it comes to innovation due to the sink in latest technological advancements, he said.<br />The industry is also suffering from a lack of skillful human resource at each tier. The induction of manpower is required to enhance the output quality while minimising the cost and augmenting the distribution channels.<br /><br />http://tribune.com.pk/story/780103/construction-sector-cement-industry-weak-due-to-lack-of-innovation/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-37143086101100616762014-10-08T09:11:32.320-07:002014-10-08T09:11:32.320-07:00Local sales of the cement industry posted a growth...Local sales of the cement industry posted a growth of 9.85% during the first quarter of the current fiscal year, compared with the same period previous year.<br />Exports, however, recorded a decline by 8.13% compared with exports during the first quarter previous year.<br />The overall situation during the first quarter of the current fiscal year showed a 4.68% growth compared to the same period last year. Cement dispatches to domestic markets during September 2014 were 2.42 million tons compared with 2.12 million during the same month last year, depicting an increase of 13.86%.<br />Exports during September 2014 were 730,000 tons against 816,000 tons during September 2013, showing a decline of 10.6%. Total dispatches during September 2014 were 3.15 million tons compared to 2.94 million tons during the same month last year.<br /><br />According to the All Pakistan Cement Manufacturers Association (APCMA), the industry has been struggling against the high duty structure, impractical imposition of maximum retail price (MRP), increasing import duties on coal, increasing power tariffs and axel load restrictions.<br />Additionally, an added issue for the industry is the growing trend of smuggling from Iran.<br />Domestic cement uptake in the southern region is being seriously affected due to unregulated smuggling of cement from Iran. Statistics showed that against a 10.8% increase in domestic sales in the northern region, domestic sales in the southern region showed an increase of only 5.4%.<br /><br />http://tribune.com.pk/story/771101/local-sales-of-cement-industry-rise-9-85/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-39998527875610225152014-06-25T15:33:07.231-07:002014-06-25T15:33:07.231-07:00The first ten months of this fiscal year have witn...The first ten months of this fiscal year have witnessed 21.3 million tonnes of cement industry dispatches in local market, showing a growth of 2.7 per cent as compared to same period last year. The overall situation during the period showed a growth of 1.17 per cent as compared to the same period of the last fiscal year, as total dispatches increased to 27.986 million tonnes against 27.664 million tonnes from July 2012 to April 2013.Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-20907266864335906762014-03-03T08:24:24.102-08:002014-03-03T08:24:24.102-08:00Here's an Express Tribune story on real estate...Here's an <a href="http://tribune.com.pk/story/675018/real-estate-market-hits-growth-trail-again/" rel="nofollow">Express Tribune</a> story on real estate sector in Pakistan:<br /><br /><i>After passing through a correction phase of nearly five months, the real estate market in Lahore is once again on the path of growth. However, there are a number of reasons why the extent of the growth may not meet investors’ expectations.<br />For the past few years, developers, after failing to find a suitable place in Lahore, have tended to focus on neglected but other populous cities of Punjab including Multan, Faisalabad, Gujranwala and Sialkot.<br />Hashu Group is one of them, Bahria town, city housing schemes (once a part of Bahria town) are the others. The latest name is the Defence Housing Authority (DHA). Since DHA is the most trusted name for any investor – in Pakistan and overseas – people find a reasonable alternate to invest.<br />Gujranwala, Multan and Bahawalpur are three cities where DHA has planned to establish housing societies, among which the sale and purchase for DHA Gujranwala has already kicked off. Such developments are observed as a positive for the long-term growth of the real estate sector.<br />“This spread out is good for the market in general,” said Mian Talat, chief executive officer at Talat Enterprisers, a real estate firm. “People now have more choices to invest and live according to their convenience.<br />The correction in the Karachi Stock Exchange is also a factor behind the recovery of the real estate market recovery.<br />Common investors of both markets believe that the KSE may crash any time. Given the situation, investors tend to switch to the real estate market. When stock index starts declining, many investors switch over to the real estate market and this is what is happening exactly now”, Talat added.<br />Few years back, Lahore, Karachi and Islamabad/Rawalpindi were the only places where investors found some room to put their money in for some profits. However, these cities are now pushing their limits — Lahore’s boundaries are now merging with some of its districts due to various factors.<br />Property prices in Lahore, despite almost a 20% correction in these five months, are quite abnormal. It is hard to find a piece of one kanal of land in a decent housing scheme below Rs10 million. If the same amount of land is located in a prime location inside a housing schemes then the price exceeds Rs20 million.<br />“Since Lahore is one of the major beneficiaries of the real estate boom, it is unlikely that real estate activities are stalled in the future. This is due to developments of housing schemes in other cities”, said Waseem Tariq, Chief Executive Officer of F-1 Properties. “The price fluctuation mechanism for real estate, as per our expectations, will be solid now.”</i><br /><br />http://tribune.com.pk/story/675018/real-estate-market-hits-growth-trail-again/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-77192559021184387072014-02-15T22:11:56.347-08:002014-02-15T22:11:56.347-08:00Here's UAE's National newspaper story on r...Here's UAE's <a href="http://www.thenational.ae/business/industry-insights/property/property-sector-aims-to-put-down-firm-roots-in-pakistan" rel="nofollow">National</a> newspaper story on real estate sector in Pakistan:<br /><br /><i> The government spends more than US$5 billion on construction from its annual development budget. The housing sector, however, gets less than half of the amount allocated for construction each year. The burgeoning population and rapid urbanisation calls for more housing schemes in the country. Private real estate developers have a crucial role to meet housing.<br /><br />In view of the security concerns, private developers have resorted to building gated communities in major cities. Pakistan’s Bahria Town is Asia’s largest real estate developer and private housing society, which has practically implemented the idea of foolproof safety. Bahria’s ongoing projects, such as the JV D&B Valley, Golf City, Garden City, Bahria Icon, cover more than 1 billion square feet that will accommodate more than 1 million residents. Bahria’s 25,000 employees are delivering US$5 billion of iconic developments.<br /><br />Administered by the Pakistan army, Defence Housing Authority (DHA) is a real estate organisationthat mainly develops housing for current and retired military officers. DHA has establishments in all the major cities including Karachi, Lahore and Islamabad. DHA City, one of the largest state-of-the-art residential-cum-commercial projects, is under construction in Karachi. DHA has also built gated communities. And the prices of residential and commercial property in DHA housing schemes have been on the rise.<br /><br />Launched in 2008, DHA Valley is a joint venture of DHA, Bahria Town and Habib Rafiq Private. The project aims at developing a secure community with essential amenities. DHA Valley offers 1,125 sq ft and 1,800 sq ft residential plots for 650,000 Pakistan rupees (Dh22,749) and 880,000 rupees respectively, with a quarterly instalment plan for Pakistani residents. It also offers1,800 sq ft residential plots for US$12,900 for overseas Pakistani residents.<br /><br />The winner of five awards from the Asia Pacific International Property Awards, Bahria Town is actually fuelling the growth of real estate sector in the country.<br /><br />Bahria’s projects in Rawalpindi and Islamabad and the development of a gated community worth $6 billion in the twin cities is the great property success story. The amenities offered by Bahria Town attracted residents and allured real estate investors. It ensures a 24-hour supply of electricity, fool-proof security and other amenities. The value of real estate in the Bahria towns in Lahore, Islamabad and Rawalpindi has increased manifold in the past five years. The price of a 1,800 sq ft residential plot at Bahria towns in Lahore and Rawalpindi has increased up to 5 million rupees from 1.5m rupees in just three to four years.<br /><br />Karachi, the country commercial capital, has endured stagnancy or a fall in property prices because of deteriorating law and order over the past five years. Bahria Town has come forward as the answer to many of the problems confronting the real estate investors. Bahria town Karachi is currently the focus of speculative trade in real estate. Frenzied investors are ready to offer triple the price for plot files. What is really a commendable the properties are financially accessible to the middle class. For example in the newly launched Bahria Town scheme in Karachi, the price for a 1,125 sq ft residential plot is 2.6 million rupees, while the price of a 2,160 sq ft plot is more than 5m rupees. Similarly, the price a two bed apartment is 2.6m rupees, while the price of four-bed apartment is 8.2m rupees. These properties can be purchased through instalments under a five-year plan.</i><br /><br />http://www.thenational.ae/business/industry-insights/property/property-sector-aims-to-put-down-firm-roots-in-pakistanRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-7916744339845633102014-02-03T13:04:06.080-08:002014-02-03T13:04:06.080-08:00Here's Express Tribune on Bahria Town projects...Here's <a href="http://tribune.com.pk/story/663864/bahria-town-project-over-50000-receive-booking-form/" rel="nofollow">Express Tribune</a> on Bahria Town projects in Karachi and Rawalpindi:<br /><br /><i>RAWALPINDI: Pakistan’s largest real estate company, Bahria Town (BT) on Sunday started the booking process for its residential plots in Karachi and Rawalpindi.<br />Under the project, the real estate giant will allot plots to more than 0.5 million people. On the first day of booking, more than 50 thousand people received the form against a fee of Rs1,000.<br />The demand was such that some people reportedly resold their forms at a profit.<br />People from all walks of life showed great interest in the BT project and long queues of citizens were seen at the booking offices till late at night.<br />Talking to Express News, people said even the VIPs were found standing in queues, and the credit for this went to the founder and chairman of Bahria Town, Malik Riaz Hussain.<br />The BT representative said Sunday was reserved for the distribution of forms for residential plots. “The booking forms for commercial plots will to be offered on Monday (today),” he added.</i><br /><br />http://tribune.com.pk/story/663864/bahria-town-project-over-50000-receive-booking-form/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-75519006897121171342013-11-30T22:32:41.663-08:002013-11-30T22:32:41.663-08:00Here's World Cement report about cement consum...Here's <a href="http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspx" rel="nofollow">World Cement</a> report about cement consumption in Pakistan:<br /><br /><i>The All Pakistan Cement Manufacturers Association reported a 10.10% increase in domestic cement consumption in January. The country, which has almost 45 million t of cement capacity, has seen exports fall in recent years as expansion programmes increase capacity in Pakistan’s traditional export markets and new exporters have joined the competition. However, domestic demand is on the rise, hitting an all-time high of almost 24 million t in FY11/12.<br /><br />January saw domestic sales reach 2.135 million t, comprised of 1.706 million t from the north and 429 000 t from the south of the country. Demand has been pushed by private construction as well as government infrastructure projects, a trend set to continue as the per capita cement demand in the country is well below average at 152 kg.<br /><br />Energy shortage threatens production<br /><br />However, a new threat is energy shortages, which the APCMA says hampered production in northern areas last month. The Islamabad High Court recently removed the Rs.50/mmbty Gas Development Infrastructure Cess (GIDC), declaring it illegal. Though this will bring down input costs for cement producers in the south, it is reported that it will have no benefit for the more numerous northern producers, who ‘have now been given least priority for gas supply’ (The Nation, 3 February). Some plants are looking into alternative energy supplies – DG Khan Cement, for example, is set to be one of the first applications for Kalina cycle technology in the cement industry.<br /><br />Lucky Cement prospers<br /><br />Meanwhile, Lucky Cement Limited has recorded a 42.15% y/y increase in half yearly profit for 2012/13. As of the end of December, the company reported profits of Rs.4.29 billion and improved net sales of Rs.17.511 billion, up 13.9% y/y. The company reportedly plans to upgrade its existing mills and packing machines to reduce operational costs. More information about the company can be found in the February issue of World Cement in the article ‘Pakistan: Cementing its Position’ from Lucky Cement. Subscribers can download the issue by signing in.<br /><br />Lafarge appoints new country CEO<br /><br />Finally, Lafarge Pakistan Cement has appointed Amr Reda as the new country CEO of Lafarge Pakistan. Reda had previously been the regional business controller of Lafarge Middle East and Pakistan and has been on the board of directors of Lafarge Pakistan since January 2007.</i><br /><br />http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-19584978044497677202013-08-11T08:15:28.304-07:002013-08-11T08:15:28.304-07:00Here's Daily Times on increase in Pakistan'...Here's <a href="http://www.dailytimes.com.pk/default.asp?page=2013%5C08%5C01%5Cstory_1-8-2013_pg5_4" rel="nofollow">Daily Times</a> on increase in Pakistan's cement exports in 2012-13:<br /><br /><i>The cement exports from the country witnessed increase of 15.81 percent during fiscal year 2012-13 against the same period of last year.<br /><br />The cement exports were recorded at $577.878 million whereas during July-June 2011-12, the exports remained $498.844 million. On month on month basis, the cement exports also increased by 2.49 percent and decreased by 4.16 percent in June 2013 when compared with the exports in June 2012 and May 2013.<br /><br />According to data released by Pakistan Bureau of Statistics (PBS), the exports in June 2013 were recorded at $53.338 million where as in June 2012 and May 2013 the value of exports remained $52.043 and $55.655 million. </i><br /><br />http://www.dailytimes.com.pk/default.asp?page=2013%5C08%5C01%5Cstory_1-8-2013_pg5_4Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-40751977109454362542013-02-15T08:19:47.400-08:002013-02-15T08:19:47.400-08:00Here's Emirates 24-7 report on a massive prope...Here's <a href="http://www.emirates247.com/business/economy-finance/abu-dhabi-group-property-tycoon-to-build-world-s-tallest-building-in-pakistan-2013-02-15-1.495174" rel="nofollow">Emirates 24-7</a> report on a massive property investment deal between Abu Dhabi Group and Malik Riaz:<br /><br /><i>UAE’s Abu Dhabi Group and Pakistani real estate tycoon Malik Riaz on Friday signed a deal to invest $45 billion (Dh165.15 billion) in Pakistan including building the world’s tallest building in Karachi.<br /><br />Pakistan’s news channel Geo reported today that $35 billion (Dh165.15 billion) will be pumped in Sindh province while the rest will be invested in Lahore and Islamabad.<br /><br />Under the deal, Sports City, International City, Media City, Educational and Medical City will be built in Pakistan’s financial capital. The news channel said that world’s Seven Wonders will also be built as part of the project.<br /><br />The deal is expected to generate over 2.5 million jobs in Pakistan.<br /><br />The channel, however, didn’t reveal the time for the completion of the project.</i><br /><br />http://www.emirates247.com/business/economy-finance/abu-dhabi-group-property-tycoon-to-build-world-s-tallest-building-in-pakistan-2013-02-15-1.495174Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-75598573295817657742013-02-05T14:19:35.581-08:002013-02-05T14:19:35.581-08:00Here's an ET report on rising cement consumpti...Here's an <a href="http://tribune.com.pk/story/502722/domestic-cement-sales-rise-8-in-seven-months/" rel="nofollow">ET report</a> on rising cement consumption in first 7 months of FY12-13:<br /><br /><i>LAHORE: <br /><br />A recovery in domestic cement consumption in the first seven months of the current fiscal year has saved the day for the industry, which has been constantly losing its export markets. January was another good month for local sales, with things continuing poorly on the export front.<br /><br />According to a statement issued by the All Pakistan Cement Manufacturers Association, cement sales jumped by 10.10% to 2.135 million tons in the domestic market in January.<br /><br />Mills working in the country’s north sold 1.706 million tons, while those in the south supplied 429,000 tons to the domestic market.<br /><br />Meanwhile, exports of cement dropped 11.91% – with total exports at 522,584 tons in January. Of this quantity, mills in the north exported 330,016 tons and plants in the south shipped 192,568 tons overseas.<br /><br />In seven months (July-January) of the current fiscal year, total cement sales rose 4.02% and reached 18.607 million tons – domestic consumption stood at 13.862 million tons, up 7.98% while exports were 4.746 million tons, down 6.05%.<br /><br />Despite economic challenges like unemployment, unstable law and order conditions and the impact of sporadic natural disasters, domestic demand has been aided by private construction and the government’s infrastructure development programmes in the last 10 years, according to brokerage house Shajar Capital.<br /><br />In the future, “rising remittances and changing socio-economic indicators like increasing urbanisation are expected to contribute to boosting housing demand in the country,” it said.<br /><br />Discussing the patterns of consumption, Shajar said Pakistan consumed only 152 kilogrammes per capita of cement, lower than both world and regional averages, leaving room for expansion of demand.<br /><br />A spokesman for the cement manufacturers association spoke of the energy crisis prevailing in the country, saying half of the cement units in northern areas could not operate at optimum levels in January because of the energy shortage.<br /><br />Industry experts point out that cement manufacturers are not fully utilising capacity, hampering their ability to service bank loans. They say exports should be increased as the markets of India and Afghanistan can be exploited with the support of the government.<br /><br />They stress that cement is one of the few commodities readily accepted in India, and it alone could triple Pakistan’s exports to Delhi. The only hurdle is the Indian bureaucracy, which impedes free and fair exports.<br /><br />They asked the government to settle the issue through talks with the Indian trade officials.</i><br /><br />http://tribune.com.pk/story/502722/domestic-cement-sales-rise-8-in-seven-months/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-79808256789666274622013-02-05T10:09:49.995-08:002013-02-05T10:09:49.995-08:00Here's the latest cement report on Pakistan:
...Here's the latest <a href="http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspx" rel="nofollow">cement report</a> on Pakistan:<br /><br /><i>The All Pakistan Cement Manufacturers Association reported a 10.10% increase in domestic cement consumption in January. The country, which has almost 45 million t of cement capacity, has seen exports fall in recent years as expansion programmes increase capacity in Pakistan’s traditional export markets and new exporters have joined the competition. However, domestic demand is on the rise, hitting an all-time high of almost 24 million t in FY11/12.<br /><br />January saw domestic sales reach 2.135 million t, comprised of 1.706 million t from the north and 429 000 t from the south of the country. Demand has been pushed by private construction as well as government infrastructure projects, a trend set to continue as the per capita cement demand in the country is well below average at 152 kg.<br /><br />Energy shortage threatens production<br /><br />However, a new threat is energy shortages, which the APCMA says hampered production in northern areas last month. The Islamabad High Court recently removed the Rs.50/mmbty Gas Development Infrastructure Cess (GIDC), declaring it illegal. Though this will bring down input costs for cement producers in the south, it is reported that it will have no benefit for the more numerous northern producers, who ‘have now been given least priority for gas supply’ (The Nation, 3 February). Some plants are looking into alternative energy supplies – DG Khan Cement, for example, is set to be one of the first applications for Kalina cycle technology in the cement industry.<br /><br />Lucky Cement prospers<br /><br />Meanwhile, Lucky Cement Limited has recorded a 42.15% y/y increase in half yearly profit for 2012/13. As of the end of December, the company reported profits of Rs.4.29 billion and improved net sales of Rs.17.511 billion, up 13.9% y/y. The company reportedly plans to upgrade its existing mills and packing machines to reduce operational costs. More information about the company can be found in the February issue of World Cement in the article ‘Pakistan: Cementing its Position’ from Lucky Cement. Subscribers can download the issue by signing in.<br /><br />Lafarge appoints new country CEO<br /><br />Finally, Lafarge Pakistan Cement has appointed Amr Reda as the new country CEO of Lafarge Pakistan. Reda had previously been the regional business controller of Lafarge Middle East and Pakistan and has been on the board of directors of Lafarge Pakistan since January 2007.</i><br /><br />http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-31598844822038337652013-01-23T22:20:07.930-08:002013-01-23T22:20:07.930-08:00Here's PakistanToday on a new skyscraper in Ka...Here's <a href="http://www.pakistantoday.com.pk/2013/01/24/city/karachi/pakistans-tallest-skyscraper-to-open-soon/" rel="nofollow">PakistanToday</a> on a new skyscraper in Karachi:<br /><br /><i>KARACHI - City’s tallest building, which has been constructed at a huge investment of Rs 7 billion, is all set to open its doors to the public and corporate sector with the objective to spur business and commercial activities in safe, secure and world class environment.<br />The high-rise project named Ocean Tower was set to break the record of being the tallest building in the country with 393-feet height and 28 floors, whereas the record was currently being held by a private bank building with a height of 370-feet containing 24 floors, situated on II Chundrigar Road.<br />Ocean Tower had been built according to international architectural standards and had state-of-art shopping centre and business centre. We have gathered a world of business and entertainment under one roof in the tallest building of the country in which top international brands of clothing, cosmetics, toiletries, food and cinema were available for the masses, said Siddiq Sons CEO Tariq Rafi, the company responsible for building Ocean Tower.<br />Ocean Tower would welcome a large number of shoppers from across the country, where they could buy goods related to food, health and entertainment, Tariq said. It was a premier place for conducting business and engaging in shopping, he added.<br />Furthermore, he said that all leading multinational companies and the country's business tycoons have set up their offices in Ocean Tower because they were facilitated into a dream corporate life in which business meetings, seminars and dinners could be arranged in one building while the companies could gain a good image in their relevant industries, he added.<br />Moreover, Tariq said that Ocean Tower had been built by keeping in mind the demands of modern and luxury lifestyle. The security system would be managed efficiently by man and machines, while uninterrupted power supplies and fire security compliances were also installed for the benefit of investors, he added.<br />Ocean Tower had been designed and built in such a way that it could effectively withstand earthquake jolts of 8.5 on Richter scale, which was well above the limit of any quake shocks experienced by the country so far. In addition to this, Ocean Tower had been equipped with UFLM fire safety standard, Tariq said, while adding that the building had 4,500 square feet dedicated space for car parking where more than a 1,000 cars could be easily parked. </i><br /><br />http://www.pakistantoday.com.pk/2013/01/24/city/karachi/pakistans-tallest-skyscraper-to-open-soon/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-20533123957042871642013-01-13T09:05:37.330-08:002013-01-13T09:05:37.330-08:00Here's a SteelFirst report on steel imports in...Here's a <a href="http://www.steelfirst.com/Article/3134894/Pakistans-steel-imports-up-13-in-November.html" rel="nofollow">SteelFirst</a> report on steel imports in Pakistan:<br /><br /><i> Pakistan's imports of iron and steel products were 13% higher year-on-year in November, as troubles at state-owned Pakistan Steel continued to encourage purchasing from outside the country.<br /><br />Imports reached 155,517 tonnes in November, up from 137,548 tonnes a year earlier and a little down from 156,427 tonnes in October this year.<br /><br />The struggling Pakistan Steel, the country's main producer with 1.1 million tpy of capacity, has been operating at an average utilisation of 20% during 2012 because of financial troubles. Steelmakers in Pakistan also faces higher costs and problems with intermittent power supply.<br /><br />Both these factors have kept output restrained, encouraging more imports of finished products to fill the gap.<br /><br />At the same time, the production problems have led to much lower scrap import volumes.<br /><br />Inbound shipments of ferrous scrap in November dropped to 100,673 tonnes, down 48% on the month and 25% year-on-year.</i><br /><br />http://www.steelfirst.com/Article/3134894/Pakistans-steel-imports-up-13-in-November.htmlRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-5848640164815342479.post-17365434106705205412013-01-12T19:11:53.927-08:002013-01-12T19:11:53.927-08:00Here's Daily Times on Twariqi Steel Mill plant...Here's <a href="http://www.dailytimes.com.pk/default.asp?page=2013%5C01%5C13%5Cstory_13-1-2013_pg5_2" rel="nofollow">Daily Times</a> on Twariqi Steel Mill plant inauguration in Karachi:<br /><br /><i>KARACHI: Tuwairqi Steel Mills Limited (TSML) Pakistan’s first private sector integrated environment-friendly steel manufacturing complex of Al-Tuwairqi Holding (ATH)/ISPC of the Kingdom of Saudi Arabia inaugurated by Prime Minister Raja Pervez Ashraf at Port Qasim Karachi on Saturday.<br />The plant in its first phase has the capacity to produce up to 1.28 million tonnes of high quality Direct Reduced Iron (DRI), which is evidently steel’s most versatile metallic and a preferred raw material for quality steel making worldwide.<br />Raja Pervez Ashraf congratulated the entire team of TSML on the successful completion of the first phase and committed to extend all possible support from the government for the expansion plans of ATH and POSCO in Pakistan. He said, “It is a matter of great pride for us Pakistan has now started producing DRI, with the completion of the first phase of TSML. We are committed to transform our country into an industrial hub and for that we seek more projects-especially in the steel sector, since steel is the backbone of the industrial growth. TSML in poised to serve as a catalyst for the industrial growth of Pakistan.”<br />He was of the view currently Pakistan was among the countries that rely mostly on imports when it comes to heavy mechanical structures and engineering goods. By producing high quality steel within Pakistan we can manufacture such equipment locally by value addition with the help of downstream industries, he concluded.<br />He distributed shields among outstanding employees of TSML as a token of appreciation of their hard work and dedication to successfully complete the first phase.<br />The first phase has been completed with an investment of over $350 million. The plant spreads over an area of 220 acres at Bin Qasim Karachi and employs the world’s most advanced DRI technology of the MIDREX process owned by Kobe Steel of Japan. ATH/ISPC and POSCO have signed a memorandum of understanding (MoU) with the government of Pakistan for the backward and forward integration with an estimated investment 3 times higher than of the DRI plant. Forward integration would be a further value addition through a Melt Shop, producing world standard steel grades, while backward integration would be to the extent of exploring iron ore locally in Balochistan, its beneficiation and pelletisation as well.<br />Dr Hilal Hussain Al-Tuwairqi, Chairman Al-Tuwairqi Holding appreciated the efforts of TSML employees. He said Al-Tuwairqi’s vision was to participate in the development of national economy in order to have a long sustaining growth of Pakistan.<br />“We are looking forward to create for our younger generations, ample job opportunities to build a strong and prosperous nation on the face of this plant. Al-Tuwairqi sees Pakistan as a land of opportunities and we are very clear in our perception that Pakistan as a country has to grow and we are determined to play an instrumental role in its development, he remarked.<br />Joon Yang Chung Chairman and CEO POSCO of South Korea congratulated the entire team of TSML. He said it was heartening to learn that TSML has increased the production capacity of Pakistan by 1.28 million tonnes per annum, which would help meet the ever growing demands of steel in Pakistan.<br />Zaigham Adil Rizvi Director (Projects) TSML said TSML has massive expansion and modernisation plans not only to enhance production capacity at an exponential rate but also to improve productivity and efficiency, matching the highest global standards. Pakistan’s current per capita steel consumption is only 40 kilogramme, which is exuberantly low, when compared with the global average of 215 kilogramme. This establishes a dire need increased emphasis on achieving international benchmarks to become a modern and an efficient economy.</i><br /><br />http://www.dailytimes.com.pk/default.asp?page=2013\01\13\story_13-1-2013_pg5_2<br /><br /><br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.com