The management of Fauji Cement Company Limited (FCCL) held Corporate Briefing Session for Investors and Analysts where it mentioned that it is expecting double-digit growth in cement despatches for the financial year 2019-20 (FY21). The growth emanates from likely increased cement demand from Dasu and Bhasha dams.
Company also mentioned that an additional 2.5 Mega Watt solar Energy Plant will also come online during By March-2021, taking total Energy capacity of t he company to 17.5MW.
The company has signed a shared services agreement with Askari Cement, which can result in annual savings to the tune of Rs90-100mn. Through Shared service agreement, Fauj Cement will be able to streamline its supply chain and manage efficiency gains.
The company is also in advance stages of acquiring Non-Objection Certificate (NOC) for setting up a greenfield cement plant in DG Khan. More details regarding the expansion would be shared over the next 3-6 months. The expansion can come with a capital structure of 60% Debt and 40% Equity.
Fauji Cement has a total market share of 8% making it one of the largest cement manufacturer in Pakistan.
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