Cement News tagged under: Sri Lanka

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Tokyo Cement quarterly profit surges as costs fall, Sri Lanka

06 November 2013, Published under Cement News

Sri Lanka's Tokyo Cement Company (Lanka) Plc, said profits in the September 2013 quarter rose to LKR619m (US$4.72m) in the September 2013 quarter up 166 per cent YoY due to lower raw material costs. The group said revenues were flat at LKR7.5bn in the September quarter but cost of sales fell seven per cent to LKR6.2bn from a year earlier, expanding gross profits 52 per cent to LKR1.3bn.

Sri Lankan government plans four port-based cement facilities

24 September 2013, Published under Cement News

The government of Sri Lanka plans to establish four cement facilities adjacent to the country’s main ports as part of its plan to establish new industrial estates within new and existing port structures. Approval has been granted to lease lands owned by the major ports of Colombo, Galle and Trincomalee to set up grinding and packing plants under the ‘One Cement Factory in One Harbour’ concept. The Sri Lanka Ports Authority highlight that establishing these facilities on port premises r...

DG Khan Cement plans greenfield plant, Pakistan

12 September 2013, Published under Cement News

DG Khan Cement has been given the green light by its Board of Directors (BoD) to set up a greenfield plant in Pakistan, but plans for a Mozambique facility have been withdrawn. The Pakistan-based manufacturer announced it is to set up the new 2.6Mta facility in the Hub District, Lasbela in the Baluchistan Province near Karachi. Its BoD has asked management to initiate the process to establish the plant, the land for which has already been acquired. If the new project comes to fruition...

Sri Lanka's Tokyo Cement profits up six-fold

22 August 2013, Published under Cement News

Lower raw material costs have aided profits at Sri Lanka's Tokyo Cement group. In the June 2013 quarter profits rose 660 per cent to LKR611m (US$4.63m) from a year earlier. The factors affecting cement sales in the country have changed significantly from last year when raw material costs were hurting cement producers and the government, which is in charge of cement prices, delayed a price hike on cement. As clinker production costs have fallen and the Sri Lankan currency has stabilised, ...

Sri Lanka to restart Kankesanthurai works

30 July 2013, Published under Cement News

Sri Lanka’s State Resources and Enterprise Development Ministry is to relaunch the Kankesanthurai cement works, involving an investment of LKR1.5bn (US$11.4m) NSM Samsudeen, chairman of the Sri Lanka Cement Corporation, handed over proposals to reestablish the defunct factory to Minister Dayasritha Tissera on Friday, according to reports by the Sri Lankan Broadcasting Corporation. The plant is expected to resume operations within a year. The Kankesanthurai plant is situated in Jaffna, a re...

Tokyo Cement to set up new unit, Sri Lanka

24 July 2013, Published under Cement News

Tokyo Cement is in talks to set up a new US$50m facility under the name of Tokyo Eastern Cement Company as part of the Sri Lanka-based cement producer’s expansion strategy to meet anticipated rises in demand. “We are currently in the process of finalising a 33-year lease agreement with the government for the land, to construct the factory,” SR Gnanam, managing director of Tokyo Cement said. The new factory will be located adjoining the company’s existing 1.8Mta grinding factory in Trinc...

Sri Lanka sales expected to pick up

17 July 2013, Published under Cement News

Following a contraction in the first quarter of this year, cement demand in Sri Lanka is expected to pick up, according to forecasts by one of the country’s leading producers. "During 2012, the momentum of residential housing construction slowed down, and in the first quarter of 2013, private tourism related constructions too, indicated signs of slower growth," managing director of Tokyo Cement, SR Gnanam, told shareholders in the annual report. "Meanwhile, the SME contractor segment, t...

Nepal billionaire plans new Sri Lanka factory

21 May 2013, Published under Cement News

Nepal's first Forbes billionaire, Binod Chaudhary, plans to set up a state-of-the-art cement plant in the high growth-market of Sri Lanka. Quoting a statement issued by Chaudhary's office, the Daily Mirror said in its online edition that Chaudhary has submitted a proposal to the Sri Lankan government to set up a cement plant in the Jaffna Peninsula at a cost of US$75m. According to the press statement, Chaudhary expressed confidence that Sri Lanka is on the threshold of a dynamic p...

Thatta Cement signs joint venture agreement with Cementia

10 May 2013, Published under Cement News

Pakistan cement producer Thatta Cement has signed a joint venture agreement with Cementia Holding for a new grinding plant in Sri Lanka. Cementia, based in Switzerland, is part of the Lafarge group and specialises in the trade and seaborne delivery of clinker, cement and cementitious products. “We wish to inform that today M/s Thatta Cement Company Limited (THCCL) has executed a Joint Venture Shareholders’ Agreement with Cementia Holding AG (Lafarge), Switzerland, in connection with ...

Sri Lanka Cement Corp plans to reopen Kankesanthurai Cement Factory

18 April 2013, Published under Cement News

Sri Lanka Cement Corporation is moving towards reopening of the Kankesanthurai Cement Factory which was damaged during the civil war. The state-owned Sri Lanka Cement Corporation controls the defunct Kankesanthurai Cement Works in Jaffna, once a major force in the economy of the north and has been the object of repeated proposals for revival. Speaking to the Ceylon Daily News, State Resources and Enterprise Development Minister Dayasritha Tissera said: “The government has decided to de...