Cement News tagged under: Bangladesh
BCMA requests the removal of non-adjustable income tax02 December 2019, Published under Cement NewsThe leaders of the Bangladesh Cement Manufacturers Association (BCMA) have requested the waiver of an eight per cent non-adjustable advance income tax (AIT) imposed on imported raw materials and the supply of products, according to The Financial Express. "The gross profit of the cement manufacturing industry declined compared to previous years. It will be a question of survival if the eight per cent AIT is not waived," said Mohammed Alamgir Kabir, the president of the BCMA. Mr Kabir st... |
Metrocem appoint new Chief Marketing Officer27 November 2019, Published under Cement NewsKhandker Ataur Rahman Rifat has joined as group chief marketing officer (CMO) of Metrocem of Bangladesh. According to company updates, he has 25 years of experience in the cement industry. Mr Rifat previously worked as a key figure in Aman Cement Mills Ltd as CMO (July, 2016 to November, 2019), Holcim Cement as GM (January, 2015 to April, 2016), Unique Cement Ltd as Sr GM (2003 to 2014), Cemex Cement (BD) Ltd as ASM (November, 2000 to October, 2003) and Hyundai Cement Ltd (February, 1995-... |
Premier Cement's two new plants ready for trial operation18 November 2019, Published under Cement NewsBangladesh-based Premier Cement is on track to complete its expansion plans by March 2020. The project was first announced in 2017 on the back of a forecast surge in demand for 2021. "We have constructed two more units in Narayanganj and Chattogram involving BDT13bn (US$153.5m)," said Mohammed Amirul Haque, managing director, to The Daily Star. The unit in Narayanganj represents an investment of INR8bn and the Chattogram facility claims the remainder. Both of the projects are currently rea... |
Bengal Cement signs agreement with Hyundai Development Co18 November 2019, Published under Cement NewsBangladeshi cement producer Bengal Cement Ltd signed an agreement with Hyundai Development Co to supply cement for the US$63m “Super-Specialised Hospital under BMSMMU” project of Bangabandhu Sheikh Mujib Medical University, Shahbag. The 700-bed hospital will be completed on a 53,000m 2 site and provide the largest medical service system in Bangladesh. Bengal Cement Ltd, part of the Bengal Group of Industries, operates a 1.4Mta cement plant at Baradi, Sonargaon. |
Cement export from Bangladesh continues to slide in 4MFY19-2015 November 2019, Published under Cement NewsAccording to Bangladesh Export Promotion Bureau (EPB), Bangladesh's cement industry has earned an export revenue of US$3.18m between July and October 2019-20 compared to US$3.94m earned in same period last year. This translates a fall of 19.3 per cent YoY basis. The export figure also includes a minor amount of salt, stone and related products. The export value for cement fell 3.9 per cent below the target of US$3.31, set by the government for first four months of FY19-20. The EPB had se... |
Heidelberg Cement Bangladesh announces acquisition of ECBL & EPCL13 November 2019, Published under Cement NewsHeidelberg Cement Bangladesh Ltd has informed the Dhaka Stock Exchange that the company's Board of Directors has approved the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd (a private company limited by shares incorporated in Bangladesh and engaged in cement production) and Emirates Power Co Ltd (a private company limited by shares incorporated in Bangladesh and engaged in generating and supplying electricity) from UltraTech Cement Middle East Investments L... |
MI Cement announces formation of the three subsidiary companies13 November 2019, Published under Cement NewsMI Cement Factory Ltd, manufacturer of cement in Bangladesh has informed that the Board of Directors of the company has approved formation of the three subsidiary companies fully owned by MI Cement Factory Ltd namely, Ocean Voyager Shipping Lines Ltd, Ocean Victory Shipping Lines Ltd and Ocean Vision Shipping Lines Ltd. According to a notification of MI Cement Factory Ltd to the Dhaka Stock Exchange, the Board of Directors of thecompany has also approved transfer of the three motor vessel... |
UltraTech Cement looks to divest Bangladesh asset06 November 2019, Published under Cement NewsIndia's UltraTech Cement has stated that its plan to divest non-core assets in China, the UAE and Europe, is progressing well. It has also announced that it is looking to exit the Bangladesh market. "We are also exploring opportunities to exit Bangladesh, where we have a small grinding unit of 0.6Mt. All the proceeds from these asset disposals will help bring down our leverage position further," said Atul Daga, CFO, following the company's 2Q earning announcement. The Bangladeshi unit i... |
Crown Cement Group to supply road project04 November 2019, Published under Cement NewsBangladesh’s Crown Cement Group has signed an agreement with China Construction Seventh Engineering Division Corp Ltd, which will see the cement manufacturer supply cement to the South Asia Sub-regional Economic Cooperation (SASEC) Road Connectivity Project-II. The SASEC Road Connectivity Project-II is an initiative to upgrade around 190km of road from Elenga, Tangail District, to Rangpur to a four-lane highway. The project is expected to improve accessibility between the capital and 16 nor... |
Cement companies announce dividends in Bangladesh28 October 2019, Published under Cement NewsTwo companies, out of seven listed cement companies in the Dhaka Stock Exchange (DSE) of Bangladesh, have announced cash dividends, subject to approval in the scheduled annual general meeting of each companies later this year. According to DSE, the Board of Directors of Confidence Cement Ltd, have recommended a 15 per cent cash and 15 per cent stock dividend for the year ended on 30 June 2019. The AGM is expected to be held on 22 December 2019. Confidence Cement has also informed that bonus... |