Cement News tagged under: Sri Lanka

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Tokyo Cement Co (Lanka) sees 76% increase in 2Q revenues

11 August 2022, Published under Cement News

Tokyo Cement (Co) Lanka plc posted a 76 per cent YoY increase in revenues to LKR11,442m (US$31.8m) in the three months ended 30 June 2022 (2QFY22-23). In the equivalent quarter of the previous year revenues stood at LKR6503m. The company’s gross profit increased by 285 per cent YoY to LKR3299m in the 2QFY22-23 when compared with LKR856.6m in the year-ago period. Profit before interest and taxation was up 272 per cent YoY to LKR2256m from LKR606.3m. However, finance expenses of LKR2224m...

Tokyo Cement reports 31% jump in turnover

07 June 2022, Published under Cement News

Tokyo Cement has reported a 31 per cent YoY increase in turnover to LKR16,158m (US$45m) in the fourth quarter of its financial year, ending 31 March 2022. Compared to the same period a year earlier, sales volumes declined by 11 per cent due to a breakdown at one of the company's grinding mills and the lack of availability of raw materials. For the current financial year as a whole, the company’s sales volumes improved by just one per cent, while turnover saw YoY growth of 22 per cent to LK...

Lanwa Cement Corp inaugurates Hambantota plant today

07 March 2022, Published under Cement News

Sri Lanka’s President Gotabhaya Rajapaksa is expected to open Lanwa Sanstha Cement Corp (Pvt)’s 4Mta in the Mirijjawila Export Processing Zone of Hambantota today. The cement works includes a fully-automated stacker reclaimer yard and two bridge types of ship unloaders for efficient, waste-free and sustainable handling of cargo. Lanwa Sanstha Cement Corp will produce the full range of cement types, including ordinary Portland Cement, Portland composite cement and blended hydraulic cement...

INSEE Ecocycle inaugurates pyrolysis plant at Puttalam factory

04 March 2022, Published under Cement News

As a key milestone of its sustainable waste management journey, INSEE Ecocyle has launched its latest state-of-the-art pyrolysis plant at the company’s Puttalam cement plant, Sri Lanka. The pyrolysis plant is designed to convert rubber and plastic waste originating from a wide range of industries into valuable resources, enabling us to augment our contribution to a circular economy. INSEE Ecocycle’s new pyrolysis plant was inaugurated at a special ceremony held recently, where the Gene...

Tokyo Cement (Lanka) reports 20% increase in revenues

10 February 2022, Published under Cement News

Tokyo Cement Group reported a 20 per cent advance in its turnover to LKR13.771bn (US$68.1m) for the third quarter ended 31 December 2021 when compared with LKR11.456bn in the 3QFY21-22. Profit for tax during the 3QFY21 grew by 38 per cent YoY to LKR1.986bn in the 3QFY21-22. Profit after tax reached LKR1.649bn, up from LKR1.303bn in the 3QFY20-21. However, sales volumes fell by three per cent as the company saw shortfalls in the supply chain, including the breakdown of a cement mill for m...

Sri Lanka back on track for growth?

21 January 2022, Published under Cement News

This Week, Tokyo Cement Co (Lanka) laid the first foundation stone for its 1Mta modernisation project at its Trincomalee factory, commissioning in early 2023. ICR reviews local producers' determination to overcome cement shortages, the ramping up of cement and raw material import infrastructure, and plans for new capex projects. Tokyo Cement Co (Lanka)'s (TCL) investments follow the cement shortages witnessed in the 2H2021, which were mainly due to pandemic related travel restrictions hin...

Siam City Cement Group signs biodiversity MoU with IUCN

21 January 2022, Published under Cement News

Siam City Cement Group (SCCC Group) and the International Union for Conservation of Nature (IUCN) have extended their partnership for another three years by formalising a new Memorandum of Understanding (MoU). The MoU will support the implementation of the INSEE Sustainability Ambition 2030 plan, targeting Net Positive Impact (NPI) on biodiversity at sites where SCCC Group operates. The goal of the partnership is to avoid and minimise biodiversity loss to the maximum extent possible. Ov...

Tokyo Cement lays foundation stone for expansion project

19 January 2022, Published under Cement News

The Management of Tokyo Cement Company (Lanka) PLC recently laid foundation for a factory expansion project in Trincomalee, to increase its manufacturing capacity by a further 1Mta. The project scheduled to be completed by early 2023 will bring Tokyo Cement Group’s total installed capacity to 4Mta, firmly establishing the Company’s position as the largest manufacturer of cement in Sri Lanka. The new expansion project at the Tokyo Cement Factory in Trincomalee reflects the company’s r...

Tokyo Cement commissions new terminal capacity

20 December 2021, Published under Cement News

Sri Lanka’s Tokyo Cement has commissioned operations at its expanded Colombo terminal, following a LKR2.5bn (US$12.35m) investment. The capacity upgrade will fully come online when all three new cement storage silos, each with a capacity of 6000t, become operational, according to Daily News. The expansion will increase the company’s total bulk cement imports from 600,000tpa to over 1Mta.

Tokyo Cement Co imports bagged cement to address shortage

09 December 2021, Published under Cement News

Sri Lanka’s Tokyo Cement Co has begun distributing a shipment of bagged cement to fill a gap created in the market when importers stopped bag cement imports, according to the Daily FT. As a result, bagged cement will now reach end consumers in all parts of the island at the lowest maximum retail price of INR1275/bag (US$6.3), which is expected to lessen the impact of the cement shortage in the country.