Cement News tagged under: Sri Lanka
Sri Lanka slash duty on cement import09 September 2024, Published under Cement NewsTo facilitate uninterrupted imported cement and boost the construction industry, the Sri Lankan government announced that the cess imposed on imported cement was reduced by INR1 (US$0.01)/kg to extend relief to the construction industry. This levy reduction was in effect from 6 September, as notified by the Finance Ministry through local media. Specifically, the tax on artificially-coloured or white cement has been reduced from INR5 to INR4/kg. In contrast, the cess on cement imported in... |
Sri Lanka's Tokyo Cement Group to raise its capacity to 4Mta19 August 2024, Published under Cement NewsSri Lanka-based Tokyo Cement ’s management hopes to complete the ongoing factory expansion project later this year, increasing overall cement production capacity from 3.1Mta to 4Mta. The new capacity will come online in the second half of this year. The project is expected to place Tokyo Cement in an advantageous position to capitalise on the industry revival as the economy rebounds. The company aims to solidify its market leadership as the nation’s largest cement manufacturer in Sri La... |
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... |