Fauji Cement

Last updated
Fauji Cement
Company typePublic
PSX:  FCCL
KSE 100 component
KSE 30 component
Industry Cement
Founded1992
Headquarters
Rawalpindi
,
Pakistan
Area served
Pakistan
Key people
Qamar Haris Manzoor (CEO)
Products Cement
Production output
11,000 tons/day
RevenueIncrease2.svgRs. 68.069 billion (US$240 million) (2023)
Increase2.svgRs. 16.017 billion (US$55 million) (2023)
Increase2.svgRs. 7.439 billion (US$26 million) (2023)
Total equity Increase2.svgRs. 65.176 billion (US$230 million) (2023)
Parent Fauji Foundation
Website fccl.com.pk
Footnotes /references
Financials As of 30 June 2023 [1]

Fauji Cement Company Limited (FCCL) is a Pakistani cement manufacturer headquartered in Rawalpindi.

History

Fauji Cement Company Limited was founded as a publicly traded corporation and initiated operations in 1996. [2] It started with a daily production capacity of 3700 tons, which has since expanded to 11000 tons per day. [3]

In May 2016, one of FCCL's facilities experienced significant damage, which was projected to result in a loss of billions of rupees for the company. [4]

In 2022, FCCL comissioned on two expansion projects, propelling the company to become the second-largest cement producer in the North region and the third-largest in Pakistan. The company broadened its operations at the Nizampur site in Khyber Pakhtunkhwa and the DG Khan site in Punjab. [5] The Nizampur expansion, which added 2.05 million tons, was operational in the 4th quarter of 2022. [6] The total cost of the project was Rs27 billion, with Rs17 billion financed through debt and Rs10 billion through equity. The DG Khan expansion, also adding 2.05 million tons, is anticipated to be operational in the 3rd quarter of 2024. [5]

On October 27, 2022, FCCL effectively brought into operation the 3rd line of cement production, boasting a daily clinker production capacity of 6,500 tons, at its existing Nizampur site in Nowshera, Khyber Pakhtunkhwa. [7] [8]

In November 2021, Fauji Cement Company Limited (FCCL) underwent a merger with Askari Cement, a subsidiary of the Army Welfare Trust. The FCCL Board of Directors gave their approval for the integration of Askari Cement Ltd. into its operations through a scheme of arrangement. The consolidation occurred based on a share swap ratio of 5:1, implying that for every 1 share held in Askari Cement Limited, 5 shares of Fauji Cement Company Limited were issued. [9] [10] [11]

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References

  1. ↑ "Fauji Cement Annual Report 2023" . Retrieved 18 May 2024.
  2. ↑ "Fauji Cement".
  3. ↑ "Fauji Cement announces to setup Greenfield Cement Manufacturing Plant in Punjab – THE CEMENT". February 19, 2021.
  4. ↑ "Fauji Cement plant suffers damage, billions may be lost". The Express Tribune. May 30, 2016.
  5. 1 2 Desk, BR Web (October 20, 2022). "Fauji Cement expansion will make it Pakistan's 3rd largest cement manufacturer". Brecorder.
  6. ↑ "Fauji Cement Co to become Pakistan's third-largest cement producer". International Cement Review. April 25, 2023.
  7. ↑ "Fauji Cement Adds New Production Unit to Increase Cement Production".
  8. ↑ "Fauji Cement commissions Nizampur Line 3". International Cement Review. October 28, 2022.
  9. ↑ "Askari Cement to Merge into Fauji Cement".
  10. ↑ Zafar, Shaista (November 18, 2021). "Askari Cement merges into Fauji Cement in a share exchange deal".
  11. ↑ "FCCL announces merger with Askari Cement Limited". www.thenews.com.pk.
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