Cement News tagged under: Bangladesh
Increase in gas price impacts cement cost in Bangladesh08 July 2019, Published under Cement NewsBangladesh's government has increased gas prices for the industrial sector including the cement industry, effective from 1 July 2019. The new price hike came in response to the demands of different gas utility companies. The Bangladesh Energy Regulatory Commission (BERC) declared an average price hike of 32.8 per cent for all users. The increase in gas prices, coupled with some tax measures in the budget 2019-20, have started to impact the manufacturing costs of cement in Bangladesh, says... |
Vessel released to off-load clinker in Bangladesh24 June 2019, Published under Cement NewsThe Egyptian flag cargo vessel "Wadi Feran" laden with 50,141t of imported clinker, which was arrested at the outer anchorage of Chittagong in Bangladesh on 26 May, as per orders of the local High Court in a litigation, was finally released on Friday. The vessel had arrived on 8 May and later successfully offloaded cargo imported by local cement manufacturers. |
Bangladesh budget sets higher GDP for FY2014 June 2019, Published under Cement NewsAHM Mustafa Kamal, Bangladesh Finance Minister, in his budget speech in Parliament on 13 June proposed that country's GDP grew consistently at a very high rate in the last decade. He added, "We expect a GDP growth of 8.13 per cent in FY218-19. Our commitments are to achieve a growth rate of 10 per cent by FY23-24, and maintain that rate until 2041 so that we can lay a solid foundation for becoming a high income country by that time." To achieve this objective, minister said that GDP growt... |
Bangladesh cement producers look for relief in coming budget30 May 2019, Published under Cement NewsThe Bangladesh Association of Construction Industry and Bangladesh Cement Manufacturers Association have submitted their demands for the incorporation in the coming July 2019-June 2020 government budget for the progress of the construction and cement industry. Bangladesh's budget is likely to be presented in Parliament on 13 June 2019. Construction sector representatives and trade bodies have urged that the government should not impose any new tax, duty or value-added tax on the constructi... |
Bulk carrier detained outside Chittagong port29 May 2019, Published under Cement NewsAccording to Chittagong Port Authority (CPA), the Egyptian bulk carrier "Wadi Feran" was arrested by orders of the local High Court on 23 May in a litigation case at the outer anchorage of Chittagong port in Bangladesh. No reason was disclosed for the arrest. This is likely to delay unloading of clinker, being imported by a local cement manufacturer. The vessel laden with 50,141t of imported clinker arrived on 8 May. |
Bangladesh records a 20% fall in export revenue22 May 2019, Published under Cement NewsBangladesh's cement industry has recorded a 20.4 per cent decline in export revenue to US$8.82m during the 10MFY18-19, compared to US$11.08m of the corresponding period of the previous fiscal, according to the Bangladesh Export Promotion Bureau. The export figure also includes a minor amount of salt, stone and related products. The export value fell 23 per cent below the US$11.45m target set by the government for the period. For the FY18-19 the export target for the cement industry is US$... |
Bangladesh Cement Manufacturers Association appoints new president08 May 2019, Published under Cement NewsBangladesh Cement Manufacturers Association (BCMA) has elected Muhammad Alamgir Kabir, managing director of Crown Cement as its new president for the next two years, according to BDNews24. Muhammad Shahidullah, managing director of Metorcem Cement Ltd and chairman of Metrocem Group, and Zahir Uddin Ahmed, managing director of Confidence Cement, have also been elected the first and second vice-president, respectively. The other members of the new committee are Treasurer Faizur Rahman Baku... |
Cyclone Fani halts clinker handling in Bangladesh ports03 May 2019, Published under Cement NewsThe handling of imported clinker and other ports in Bangladesh has been suspended due to bad weather caused by cyclonic storm Fani, which is likely to strike the country's coast from today. A large number of vessels laden with imported clinker are at outer anchorage of ports to offload cargo. The necessary precaution advice has been sent to all types of cargo vessels at port. In addition, all seaport officials have been requested to cancel the leave of the employees. Bangladesh Inland Wa... |
BCMA requests reduction in clinker import duty23 April 2019, Published under Cement NewsThe Bangladesh Cement Manufacturers Association (BCMA) has requested a reduction in the specific rate duty on clinker imports to either BDT200/t (US$2.37/t) or a fixed duty of five per cent. Cement manufacturers currently pay BDT500/t, according to the Dhaka Tribune. "Usually, the government imposes five per cent import duties on any basic raw material for industries, but the cement industry pays specific taxes higher than the five per cent," the BCMA stated in a letter to the National Boa... |
MI Cement to raise debt for Bangladeshi grinding unit19 April 2019, Published under Cement NewsMI Cement Factory Ltd is expected to raise foreign currency loans from HSBC and Standard Chartered Bank to finance its sixth line at its West Mukterpur, Munshiganj district of Bangladesh, according to the company’s Senior General Manager, Mozharul Islam. The US$70m project will add 8400tpd of grinding capacity to the site’s current capacity of 19,400tpd. Commercial production at the new unit is scheduled to start in January 2021. |