Cherat Cement to conduct multi-billion Line 1 modernization
- “The projects will be principally financed through long-term loans,” CCCL added.
Pakistan cement manufacturer, Cherat Cement Company Limited has announced its plans to perform balacing, modernisation and replacement (BMR) for Cement Line 1 and install the main crusher at Khyber Paktunkhwa.
“We would like to inform you that the Board of Directors of Cherat Cement Company Limited in its meeting held on January 18, 2021 has decided to undertake BMR for Cement Line 1 and install a main,” said the company in its filing to the bourse.
The company was of the view that these measures will help improve its operational efficiencies. It informed that the total cost of BMR of Cement Line 1 and installation of main Crusher is approximately Rs. 3.5 billion.
“The projects will be principally financed through long-term loans,” CCCL added.
CCCL was set up in 1981 as a public company. it is part of the Ghulam Faruque Group (GFG) Company.
The company manufactures, markets, and sells clinker and cement. It sells under its brand name “Cherat”. Its plant is located in Khyber Pakhtunkhwa (KPK) province which makes it an ideal location due to the proximity to the Afghan border, given that Afghanistan is a major destination for Pakistan’s cement exports. In addition to this, the markets of Azad Kashmir, FATA and Punjab are also accessible.
The company saw a 16 percent rise in topline during 1QFY21 as demand bounced back after the lock down in the event of the outbreak of Covid-19 pandemic. Total sales volumes increased by 10 percent; nearly 28 percent increase in domestic sales while export sales reduced by 52 percent.
Comments
Comments are closed.