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Lucky Cement starts commercial operations at Samawah plant 12 March 2021
Lucky Cement Ltd has announced the commencement of commercial operations of its Samawah plant in Iraq.
The company in a notification to the Pakistan Stock Exchange (PSX) on Thursday informed, We are pleased to announce that the greenfield cement production facility in Samawah, Iraq with a capacity of 1.2Mta has successfully commenced its commercial operations with effect from 10 March 2021.
The production facility is a joint venture with the Al-Shamookh group of Iraq. With the latest addition Lucky Cement overseas cement capacity now stands at 4.12Mta:
• 1.74Mta grinding plant in Basra, Iraq
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KSE-100 index breaches 44,000 level, YTD return turns negative for 1st time in 2021 Equities Correspondent
Stocks continued to be battered at Pakistan Stock exchange (PSX) as mounting political uncertainty in the country led bears to rule the roost at the bourse. On Wednesday, the benchmark index tumbled for the fifth consecutive session, breaching 44,000 level, as it closed at 43,691.68 level after losing another 531.23points by the closing bell.
On Monday, owing to constant selling pressure, the YTD (Year-to Date) return on benchmark index also turned negative for the first time in CY21 after today’s performance, showing a decline of 63 points or 0.15% as compared to the closing of the previous year.
Lucky Cement has commenced its commercial operations of cement plant in Samawah, a city of Iraq, with a production capacity of 1.2 million tons per annum.
A coal merchant shovels coal at a coal yard. Reuters/File
KARACHI: Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
According to sources, the import of coal at three coal-based power plants – China Hubco, Sahiwal and Port Qasim Electric is around 10-12 million tonnes per annum.
According to Nepra, the contribution of coal to the country’s energy mix was a staggering 21 per cent in CY20.
The cement sector is also expanding its capacity to cope with the rising demand under Prime Minister’s Naya Pakistan Housing Scheme, the sources added.