Cement News tagged under: Bangladesh

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Lafargeholcim Bangladesh reports 46% net profit surge

01 August 2019, Published under Cement News

LafargeHolcim Bangladesh has announced a 46 per cent YoY increase in net profit for the second quarter of 2019, according to a recent statement. The company also saw a 15.4 per cent rise in revenue to BDT4.5bn (US$52.9m) for the 2Q19, compared to BDT3.9bn of the year-ago period. "The 2Q19 results demonstrate the strong performance trend which continues from 2018. Our focus on raising profitability through commercial innovation, operational efficiency and cost control continues to pay off....

Bangladesh earns US$10.41m on export of cement in FY19

23 July 2019, Published under Cement News

Bangladesh's cement industry has recorded a fall of 17.3 per cent in export revenue to US$10.41m between July 2018 and June 2019, compared to US$12.59m of the corresponding period of the previous fiscal, according to the Bangladesh Export Promotion Bureau. The export figure also includes a minor amount of salt, stone and related products. The export value fell 25.6 per cent below the US$14m target set by the government for the period. For the FY18-19 the export target for the cement indust...

Mega projects are pushing Bangladesh's cement demand up

10 July 2019, Published under Cement News

Optimism among Bangladesh cement companies for market growth is strong with government mega construction projects increasing demand. "Besides the big projects, developments in real estate and commercial and public institutions have also contributed to enhanced cement consumption. Moreover an increasing number of migrants travelling from rural areas to the big cities are boosting real estate business, while the rural individual homebuilders are fuelling consumption of cement," said Mohammad ...

Increase in gas price impacts cement cost in Bangladesh

08 July 2019, Published under Cement News

Bangladesh's government has increased gas prices for the industrial sector including the cement industry, effective from 1 July 2019. The new price hike came in response to the demands of different gas utility companies. The Bangladesh Energy Regulatory Commission (BERC) declared an average price hike of 32.8 per cent for all users. The increase in gas prices, coupled with some tax measures in the budget 2019-20, have started to impact the manufacturing costs of cement in Bangladesh, says...

Vessel released to off-load clinker in Bangladesh

24 June 2019, Published under Cement News

The Egyptian flag cargo vessel "Wadi Feran" laden with 50,141t of imported clinker, which was arrested at the outer anchorage of Chittagong in Bangladesh on 26 May, as per orders of the local High Court in a litigation, was finally released on Friday. The vessel had arrived on 8 May and later successfully offloaded cargo imported by local cement manufacturers.

Bangladesh budget sets higher GDP for FY20

14 June 2019, Published under Cement News

AHM Mustafa Kamal, Bangladesh Finance Minister, in his budget speech in Parliament on 13 June  proposed that country's GDP grew consistently at a very high rate in the last decade. He added, "We expect a GDP growth of 8.13 per cent in FY218-19. Our commitments are to achieve a growth rate of 10 per cent by FY23-24, and maintain that rate until 2041 so that we can lay a solid foundation for becoming a high income country by that time." To achieve this objective, minister said that GDP growt...

Bangladesh cement producers look for relief in coming budget

30 May 2019, Published under Cement News

The Bangladesh Association of Construction Industry and Bangladesh Cement Manufacturers Association have submitted their demands for the incorporation in the coming July 2019-June 2020 government budget for the progress of the construction and cement industry. Bangladesh's budget is likely to be presented in Parliament on 13 June 2019. Construction sector representatives and trade bodies have urged that the government should not impose any new tax, duty or value-added tax on the constructi...

Bulk carrier detained outside Chittagong port

29 May 2019, Published under Cement News

According to Chittagong Port Authority (CPA), the Egyptian bulk carrier "Wadi Feran" was arrested by orders of the local High Court on 23 May in a litigation case at the outer anchorage of Chittagong port in Bangladesh. No reason was disclosed for the arrest. This is likely to delay unloading of clinker, being imported by a local cement manufacturer. The vessel laden with 50,141t of imported clinker arrived on 8 May.

Bangladesh records a 20% fall in export revenue

22 May 2019, Published under Cement News

Bangladesh's cement industry has recorded a 20.4 per cent decline in export revenue to US$8.82m during the 10MFY18-19, compared to US$11.08m of the corresponding period of the previous fiscal, according to the Bangladesh Export Promotion Bureau. The export figure also includes a minor amount of salt, stone and related products. The export value fell 23 per cent below the US$11.45m target set by the government for the period. For the FY18-19 the export target for the cement industry is US$...

Bangladesh Cement Manufacturers Association appoints new president

08 May 2019, Published under Cement News

Bangladesh Cement Manufacturers Association (BCMA) has elected Muhammad Alamgir Kabir, managing director of Crown Cement as its new president for the next two years, according to BDNews24. Muhammad Shahidullah, managing director of Metorcem Cement Ltd and chairman of Metrocem Group, and Zahir Uddin Ahmed, managing director of Confidence Cement, have also been elected the first and second vice-president, respectively. The other members of the new committee are Treasurer Faizur Rahman Baku...