Cement News tagged under: Bangladesh
Cement export from Bangladesh begins in July10 August 2020, Published under Cement NewsBangladesh's cement industry has earned export revenue of US$0.53m in July 2020, the first month of FY20-21, compared to US$0.66m bagged in July 2019. The weak start at the beginning of the new fiscal year reflects the fall in exports by 20 per cent over the year-ago period. The figure also includes a minor amount of salt, stone and related products, says data of Bangladesh Export Promotion Bureau (EPB). The export value for cement decreased by 37 per cent, underperforming when compared wit... |
Bangladesh: overcoming industry pressures20 July 2020, Published under Cement NewsCement demand in Bangladesh has been growing fast and potential is strong. However, in 2019 producers faced a number of setbacks, added to which now is the COVID-19 impact. By EBL Securities Ltd, Bangladesh. Although a booming sector with great potential, a number of challenges remain for the cement producers in Bangladesh From unfavourable tax measures to escalating raw material prices, intensified competition, price wars, the weakening taka (BDT), slowing demand and increas... |
Cement exports from Bangladesh record a 12% fall in FY19-2008 July 2020, Published under Cement NewsBangladesh's cement industry has earned export revenue of US$9.14m in the FY19-20 (July 2019-June 2020), compared to US$10.41m bagged in 12MFY18-19, a significant contraction of 12.2 per cent YoY. The export figure also includes a minor amount of salt, stone and related products, says data of Bangladesh Export Promotion Bureau (EPB). The export value for cement decreased by -13 per cent, underperforming when compared with the FY19-20 government target.The EPB had set a lower export target f... |
BCIC and EDII to build cement plant in Bangladesh01 July 2020, Published under Cement NewsBangladesh Chemical Industries Corp and Saudi-based Engineering Dimension International Investment have agreed to build a cement plant under the name of Saudi Bangla Integrated Cement Co Ltd. The new plant will have a clinker capacity of 12,000tpd and a cement capacity of 3000tpd, based on the supply of limestone from Meghalaya, India. In addition to producing cement from its own clinker, the plant will also supply 4Mta of clinker to grinding units in Bangladesh. The project is expected t... |
Bashundhara Industrial Complex secures land for bagging factory30 June 2020, Published under Cement NewsBangladesh’s Bashundhara Industrial Complex has signed an agreement for 16 acres of land, located 1km away from Mongla port and another 20km away from the site of a proposed airport in Bagerhat. The company intends to use the land for the construction of a factory that will produce cement bags for its two cement plants. |
Crown Cement cuts employee salaries24 June 2020, Published under Cement NewsBangladesh-based Crown Cement has decided to reduce the salaries and other benefits of its employees by 20.5 per cent as it attributes an unprecedented loss in the current financial year to the coronavirus pandemic. However, the employees in the sales department of the company will see a 4.4 per cent increase in their salaries, according to an anonymous official of the cement company as reported in the Daily Sun newspaper. He also said that the cement industry has started to feel the imp... |
BCMA calls for withdrawal of import tax19 June 2020, Published under Cement NewsThe Bangladesh Cement Manufacturers Association (BCMA) has called for the withdrawal of a non-adjustable advance income tax (AIT), which is applied at both the import and supply stage, according to The Financial Express. "So far we know this non-adjustable tax is not applicable for any other sectors. I also do not know whether such type of tax is realised in other countries," said BCMA president, Alamgir Kabir. Currently, local manufacturers pay three per cent tax at the import stage and ... |
BCMA calls for 60% cut in duties on clinker imports10 June 2020, Published under Cement NewsThe Bangladesh Cement Manufacturers' Association (BCMA) has issued a call for the government to cut import duties of clinker by 60 per cent. "We had zero sales during the countrywide closure in the last two and a half months," said Md Alamgir Kabir, president of BCMA. "So for our survival we need the import duty on clinker, the sector's major raw material, to be brought down to BDT200/t from the existing BDT500/t." The sector counted a loss of around BDT6bn from 26 March to 30 May, accord... |
Bangladesh opens new ports of call with India to increase trade26 May 2020, Published under Cement NewsBangladesh and India have added five more ports of call to its existing six and two Indo-Bangladesh Protocol (IBP) water routes. The move would help reduce transport cost in exporting bulk amount of cement to Tripura and the other northeastern states, said Mr Shahidullah, managing director of Metrocem Cement and first vice-president of Bangladesh Cement Manufacturers Association. The five new ports of call in Bangladesh that were put in the Second Addendum to the Protocol on Transit and Tr... |
BCMA reports 46% fall in domestic cement sales18 May 2020, Published under Cement NewsThe current demand for cement in Bangladesh has declined drastically as construction projects have been halted following COVID-19 lockdown, according to the Bangladesh Cement Manufacturers Association (BCMA). Cement sales dropped around 46 per cent in April following serious disruption in construction, according to the BCMA. The manufacturers saw a severe fall in sales, despite expecting double-digit growth in 2020 after achieving above seven per cent growth in previous year. BCMA Presid... |