Cement News tagged under: Bangladesh

RSS feed

Measures to stop COVID-19 spread expected to impact Bangladeshi cement industry

26 March 2020, Published under Cement News

The Bangladeshi cement industry is likely to be affected by the measures taken by government to halt the spread of the coronavirus in the country. All passenger trains and vessel departures, except cargo trains and ships, have been suspended for an indefinate period. In addition, the government announced a 10-day general holiday from 26 March until 4 April as well as a relief package. Bangladeshi Prime Minister, Sheikh Hasina, announced a BDT50bn incentive package for export-oriented indu...

Clinker imports into Bangladesh up 4%

23 March 2020, Published under Cement News

The import of clinker into Bangladesh has increased by 3.6 per cent in the first seven months of the FY19-20, according to data released by the Central Bank of Bangladesh. Clinker volumes to a value of US$554.8m were imported during this period, a significant increase when compared with 7MFY18-19 when the value of clinker imports reached US$535.3m. Total imports declined by 4.4 per cent YoY to US$34.58bn between July 2019 and January 2020. The fall is due to a number of factors, including...

Detained vessel allowed to sail from Bangladesh, as no coronavirus found

16 March 2020, Published under Cement News

The Bangladeshi port authority Mongla Port did not find any symptoms of COVID-19 in the crew of the bulk carrier Serenitas N, which later off-loaded imported coal at birth and sailed on 15 March, say Bangladesh shipping industry sources. On arrival in the first week of March the vessel carrying the flag of the Marshall Islands had suspended off-loading of imported coal at Mongla, due to suspicion of the coronavirus affecting the crew. The vessel was detained when three sailors of vessel h...

Cement exports from Bangladesh continue to slide in 8MFY19-20

11 March 2020, Published under Cement News

Bangladesh's cement industry has earned an export revenue of US$7.19m in the 8MFY19-20 (July 2019-February 2020), compared to US$7.27m earned in 8MFY18-19, a minor contraction of 1.1 per cent YoY. The export figure also includes a small amount of salt, stone and related products, according to the data of Bangladesh Export Promotion Bureau (EPB). However, the export value for cement increased by 3.6 per cent above the 8MFY19-20 government target of US$6.94m during this export period. The EP...

Bangladesh suspends coal discharge in fear of coronavirus

10 March 2020, Published under Cement News

Bangladesh has suspended offloading of imported coal from a foreign flag vessel due to suspicion of coronavirus in crew, at Mongla port in southern Bangladesh last week. According to theport authority the offloading of coal from bulk carrier Serenitas N was stopped on  at berth number H- 3 of Mongla Port on 5 March as three sailors of the vessel were taken into an isolation ward for having a body temperature that exceeded the normal range. The vessel had sailed from the Lianyungang port in...

LafargeHolcim Bangladesh profits grow in 2019

09 March 2020, Published under Cement News

LafargeHolcim Bangladesh has posted profit after tax of BDT1.737bn (US$16.24m) in 2019 as compared to BDT1.115bn in 2018.  This represents a growth of 56 per cent in profit after tax YoY, says the cpmany. The company recorded a growth of seven per cent in sales during 2019, which rose to BDT17.840bn from BDT16.632bn during this period. The company also declared 10 per cent cash dividend for 2019, which is the same as in the previous four years, as the cement maker continues to hold steady ...

MGI Group of Bangladesh sets up nine industrial units, including cement

06 March 2020, Published under Cement News

Meghna Group of Industries (MGI), a leading Bangladeshi business group inaugurated last week nine newly-built industrial units, including cement plants, at its economic zone in the Narayanganj district, Dhaka of Bangladesh. A group announcement said, "We are much obliged to the distinguished guests, patrons and well-wishers for their unconditional support to our cause." The Finance Minister of Bangladesh, A H M Mustafa Kamal, was the chief guest of the inauguration programme. Minister of Co...

Cementos Molins reports 5% rise in net profit for 2019

28 February 2020, Published under Cement News

Cementos Molins posted a consolidated net profit of EUR90m in 2019, up five per cent YoY. EBITDA increased five per cent YoY to EUR49m. However, the depreciation of the Argentine peso and the hyperinflation in the Latin American country impacted the results. Excluding this, consolidated net profit growth would have been 16 per cent while EBITDA would have advanced by 13 per cent, said the company in a statement. The company achieved a turnover of EUR797m, reporting a four per cent YoY incr...

Lesser sales hit profit of Kohat Cement in 1HFY19-20

27 February 2020, Published under Cement News

Kohat Cement Co Ltd (KOHC) has reported a YoY drop of 93.6 per cent in profit for the half year ended 31 December 2019. It reported a profit after tax of PKR97m (US$0.62m) compared to PKR1.526bn in the corresponding period last year. The fall in profit is attributed to a decrease in sales, which fell by 28.2 per cent to PKR6.021bn during this period from PKR8.391bn in the year-ago period. It also reported a distribution cost of PKR30m against PKR43m in 1HFY19-20l, while administrative exp...

Bangladesh's Meghna Group receives HSBC award

27 February 2020, Published under Cement News

Meghna Group of Industries, the parent company of Unique Cement Industries Ltd in Bangladesh, has received the first HSBC Business Excellence Award for its special achievements and significant contribution to the country's socio-economic growth.   The award was received by Mostafa Kamal, chairman and managing director of Meghna Group of Industries, and former president of the Bangladesh Cement Manufacturers Association (BCMA).   HSBC awarded to eight organisations including Square Group (Tex...