Cement News tagged under: Bangladesh
National Budget FY24-25 offers no direct incentive for the cement sector14 June 2024, Published under Cement NewsBangladesh’s National Budget for FY24-25 was presented by Abul Hassan Mahmood Ali, Minister of Finance, in parliament on 6 June 2024. A cursory look at budget documents reveals no direct tax measures/proposals for the cement sector, which encounters financial challenges due to the high cost of raw materials. However, some indirect tax proposals may positively impact the cement industry. The corporate tax rate, including unlisted cement firms, was lowered by 2.5 percentage points. While form... |
Substantial growth in Bangladesh's cement exports during 11MFY2407 June 2024, Published under Cement NewsBangladesh's cement industry has experienced significant export growth during the 1MFY24. The sector recorded a 34.3 per cent YoY increase in cement export revenue, reaching US$16.81m during the 11MFY23-24. This marks a substantial rise from US$12.52m in the corresponding period of the previous year and includes certain salt, stone, and related products. Cement exports also grew by 23.4 per cent YoY, surpassing the target of US$13.62m for the 11MFY23-24. Bangladesh mainly exports cement t... |
HeidelbergCement Bangladesh looks for new MD29 May 2024, Published under Cement NewsHeidelbergCement Bangladesh Ltd is seeking a new managing director to oversee its operations in Bangladesh. Part of Heidelberg Materials (HM) Group, HeidelbergCement Bangladesh Ltd (HCBL) is Bangladesh’s leading cement manufacturing company. With a rich history of 151 years and a global presence in over 50 countries, the group boasts a workforce of 51,000 and an annual turnover of EUR21.2bn. In Bangladesh, HCBL offers two renowned flagship brands in Ruby Cement and Scan Cement. Appli... |
LafargeHolcim Bangladesh net profit stands BDT1.627bn in 1Q2416 May 2024, Published under Cement NewsAccording to the latest quarterly report of LafargeHolcim Bangladesh Ltd ( LHBL), a frontline cement producer in Bangladesh, revenue and net profit shrank by three and 15 per cent, respectively, in the 1Q24. The prime reasons could be the increase in the cost of raw materials and the prevailing inflation in the country. In a statement, Iqbal Chowdhury, CEO, said: “The construction Industry is going through a challenging time, with a consistently high inflationary environment impacting co... |
Bangladesh forecasts demand for clinker by 202715 May 2024, Published under Cement NewsBangladesh has estimated a significant growth in demand for raw materials for steel and cement industries by 2027. According to the country's Industries Minister, Nurul Majid Mahmud Humayun, the cement industry's demand for clinker will reach 25Mt for the period while demand for steel is expected to reach 15Mt due to the ongoing boom in infrastructure development. He said procurement of raw materials for these industries will be the key challenge in the future to sustain the country’s eco... |
Bangladesh's cement exports see a 49% YoY growth during 10MFY23-2410 May 2024, Published under Cement NewsBangladesh’s cement industry has witnessed substantial growth in its exports. It saw a 48.7 per cent YoY growth in cement export revenue, generating US$15.94m during the first 10 months of FY23-24. This is up from US$10.72m in the same period of the previous year and includes some salt, stone, and related products. Cement exports rose by 29.3 per cent YoY and exceeded the target of US$12.23m for the 10MFY23-24. Bangladesh’s cement exports mainly depart for India, with other popular destin... |
HeidelbergCement Bangladesh reported a net profit of BDT459m in 202326 April 2024, Published under Cement NewsAccording to HeidelbergCement Bangladesh Ltd’ s (HB) 2023 annual report, the company successfully manufactured and distributed a combined total of 2.185Mt of cement through its three strategically-positioned plants in Kanchpur, Chittagong, and Mukterpur. This quantity represents a marginal 1.2 per cent decline compared to the aggregate sales volume achieved in 2022. Notably, the company’s overall sales volume decreased by 28,000t compared to the preceding year. HB reported a net profit of ... |
HeidelbergCement Bangladesh to change its name23 April 2024, Published under Cement NewsHeidelbergCement Bangladesh Ltd has called the Annual General Meeting (AGM) scheduled for 8 May 2024 to approve some important company matters and change the company’s name in Bangladesh. This follows the announcement that one of the company’s major shareholders, HeidelbergCement Netherlands Holding BV, changed its name to “Heidelberg Materials Netherlands Holding BV”, effective from 3 November 2023. It is to be noted that Heidelberg Materials Netherlands Holding BV (formerly known as H... |
Bangladesh likely to break cement export target in 12MFY23-2408 April 2024, Published under Cement NewsBangladesh recorded 48.7 per cent YoY growth in cement export revenue to US$14.39m in the first nine months of FY23-24 (July 2023-March 2024) from US$9.68m in the same corresponding months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone, and related products. The 28.6 per cent YoY rise in cement exports also surpassed the target of US$11.19m for the 9MFY23-24. Bangladesh had set a higher target export reven... |
Bangladesh cement export momentum continued in 8MFY23-2411 March 2024, Published under Cement NewsBangladesh has recorded a 51.9 per cent YoY growth in cement export revenue to US$12.35m in the first eight months of FY23-24 (July-February 2024) from US$8.13m in the same corresponding months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. The 24.1 per cent YoY rise in cement exports also surpassed the target of US$9.95m for 8MFY23-24. Bangladesh had set a higher target export reven... |