Cement News tagged under: Sri Lanka
Sri Lanka considering price control for cement02 July 2024, Published under Cement NewsSri Lanka’s Trade Minister Malin Fernando said the country was considering the introduction of price controls on cement. The step followed cement companies’ announcement that they would be reducing prices by LKR150 (US$0.50) to LKR2250/bag. Mr Fernando said: “I don’t accept this reducing the price by 150, I want the maximum retail price to be 2000-2500.” “We will announce a maximum retail price as soon as the companies discuss,” Fernando said. “If they do not comply, the consumer affairs ... |
RHI wins consultancy contract for Sri Lankan grinding plant28 May 2024, Published under Cement NewsReliance Heavy Industries of Egypt has been awarded a consultancy contract for the construction of a greenfield grinding plant with a cement capacity of 100tph. The clinker grinding facility will be situated in Sri Lanka and the contract was awarded by Exim Finance Group of the UAE. |
Cement prices rise in Sri Lanka08 January 2024, Published under Cement NewsThe maximum retail price of a 50kg bag of cement has been increased in Sri Lanka by LKR150 (US$0.466) with immediate effect, cement manufacturers said. They said the price was increased due to the imposition of the value-added tax on 1 January. Accordingly, the new retail price of a 50kg bag of cement is LKR2450 (US$7.62). Meanwhile, National Construction Workers Union (NCWU) secretary, Supun Abeysekara, told the local Daily Mirror that though only a three per cent VAT should be impose... |
INSEE Cement offers cement to war veterans and their families19 July 2023, Published under Cement NewsSri Lanka’s INSEE Cement has signed a Memorandum of Understanding (MoU) with the country's Ministry of Defense to provide cement at a concessionary price to families of war veterans who have been disabled or killed in combat. The MoU forms part of a broader initiative by the cement producer launched earlier this year to provide lower-priced cement to all Tri-armed forces personnel in recognition of their services to Sri Lanka, reports ColomboPage. Under the agreement, each family will be e... |
Sri Lanka agrees maximum price for cement07 July 2023, Published under Cement NewsCement producers in Sri Lanka have reached an agreement with the country’s Minister of Trade, Nalin Fernando, to establish a maximum retail price for a 50kg bag of cement. According to NewsWire, the agreed price has been set at LKR2300/bag (US$7.39/bag). Sri Lanka is currently home to one integrated cement plant and four grinding units, with a total cement production capacity of around 8Mta. |
Bangladesh cement export revenue jumps 43% YoY05 July 2023, Published under Cement NewsBangladesh has reported 42.7 per cent YoY growth in cement export revenue to US$13.66m in FY22-23 (July 2022-June 2023). This compares to US$9.57m in the same period a year earlier. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone and related products. Historically, the majority of cement exports from Bangladesh are shipped to India, particularly from the northeastern states of Bangladesh. Other popular destinations include N... |
Sri Lanka raises import tax on cement20 June 2023, Published under Cement NewsThe Sri Lankan government has increased the import tax (CESS) on imported cement. With effect from 17 June 2023, the import tax on 1kg of artificially coloured or uncoloured cement has risen from LKR3.00 to LKR5.00 (US$0.01-0.02). The import tax on 1kg of Portland cement in bags of 50kg or less has increased to LKR8.00. Meanwhile, the import tax on other Portland cement in bags over 50kg has advanced from LKR3.00 to LKR5.00, according to Colombo Page. |
Sri Lanka's cement prices to fall06 June 2023, Published under Cement NewsSri Lanka’s cement prices are expected to fall by LKR300-500/50kg bag (US$1.03-1.72/50kg bag) of cement, following a recent appreciation of the rupee. A 50kg bag was retailing at round LKR2600. “The reduction in prices is due to the strengthening of our currency, the falling interest rates and the current economic standards that we have put in place,” said Trade Minister, Nalin Fernando, according to EconomyNext. “Although the fall in the dollar price is one of the reasons for the fall in... |
Tokyo Cement Group receives the Gold Medal award25 May 2023, Published under Cement NewsTokyo Cement Co (Sri Lanka) received the Gold Medal for exceptional environmentally conscious business practices in the Chemical Industries Category at the Presidential Environmental Awards 2021-22 organised by the Central Environmental Authority (CEA) last month. The award recognises the multiple sustainable industry practices adopted by Tokyo Cement Group, according to CEA’s website information. His Excellency the President Honorary, Ranil Wickramasinghe, presented the prestigious Go... |
Sri Lankan government urged to reduce bagged cement prices23 May 2023, Published under Cement NewsSri Lankan cement customers are urging the government to make cement bag prices reasonable, given the appreciation of the local currency after the economic crisis in the country. Presently 50kg bag prices are hovering between LKR2500-2650 (US$8.14-8.63), according to company websites. The National Construction Association of Sri Lanka (NCASL) expressed concern over reducing a bag of cement by LKR150. It said this reduction was insufficient and the government should further reduce the cement... |