Cement News tagged under: trading
Plan to curb cement imports, Tanzania13 April 2010, Published under Cement NewsThe Parliamentary Committee on Finance and Economic Affairs has promised to take action against an influx of cheaper cement imports. The committee’s vice chairman Hamza Mwenegoha said although local cement producers had invested heavily and provided jobs, they risked businesses due to cheap imports. He was speaking during a tour of the committee at Twiga Cement factory, which is part of the HeidelbergCement group, in Dar es Salaam. East African Community member states suspended taxes on i... |
Fujairah Cement and ITFC signs trade finance agreement13 April 2010, Published under Cement NewsThe International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the IDB Group, as part of its trade finance mandate to advance the expansion of the private sector through a sustained commitment to improving access to value-added and competitive financing, cemented its relationship with Fujairah Cement Industries (FCI) with an AED73m (US$19.8m) trade finance agreement. The agreement was signed by Sheikh Mohamed Bin Hamad Bin Saif Al Sharqi, Vice Chairman of FCI and Dr... |
Liberia: cement shortage looms05 April 2010, Published under Cement NewsLocal Liberian businesses involved in cement importation in the country have called on President Ellen Johnson Sirleaf to remove the 10% customs tariff of cost, insurance and freight (CIF) that had been reintroduced by the Ministry of Finance on imported cement. The cement importers told the Liberia Daily Observer business correspondent in Monrovia that the introduction of the 10% CIF by the Ministry of Finance has seriously disempowered them to import cement. They want President Sirleaf t... |
India supplies bagged cement to Sri Lanka01 April 2010, Published under Cement NewsThe Indian High Commissioner Ashok K Kantha on Wednesday handed ULM Haldeen, Secretary, Ministry of Resettlement and the Disaster Relief Services, the first lot of 10,000 of the 400,000 bags of cement being supplied by India. The bags, procured from UltraTech Cement Lanka Pvt Ltd, will supplied in lots of 10,0000 bags each day for the next 40-45 days and will be distributed among the resettled population in the Northern Provision. This cement, along with an earlier supply of 530,000 metal ... |
Southern companies win freight subisdy30 March 2010, Published under Cement NewsThe disqualification of the Southern Cement plants for claiming Inland Freight Subsidy was removed on Tuesday, paving the way for products originating within a minimum of 100km from seaport, to also qualify for the subsidy. According to cement producers, the courts passed a ruling on Tuesday morning to the effect that the disqualification on products originating within 100km from seaport was removed till the final disposal of the case. A senior official at a cement company said that the comp... |
India producers consider exports to Sri Lanka29 March 2010, Published under Cement NewsHit by massive capacity expansion and poor utilisation of their plants, some Indian cement companies are looking towards war-ravaged Sri Lanka, which is rebuilding its infrastructure. Industry sources said that Madras Cements is shipping cement to Sri Lanka, while India Cements and Dalmia Cement have got the approvals from the island nation’s quality certification body – which is a precursor for shipping cement. “Cement manufacturers import coal through us and use our port to export cement ... |
East African producers call for tariff on imported cement24 March 2010, Published under Cement NewsThe East Africa Cement Producers Association (EACPA) predicts Uganda could lose annual tax revenues of over Ush50b (US$25m) because of rising imports of subsidized and dumped cement from Asia and the Far East. EACPA Chairman, Mr. David Njoroge said the Common External Tariff (CET) on imported cement was reduced in 2008 from 40% to 25% by East Africa member states due to challenges that were caused by mechanical breakdowns in two cement factories in Kenya. "Because of this measure, the loca... |
Peru’s Finance Ministry to reinstate duty on imports24 March 2010, Published under Cement NewsPeru’s Finance Ministry may seek a gradual reinstatement of a duty on cement imports, which a high-level court this month said should be at 12%, a high-level official said. Peru’s highest court, the Constitutional Tribunal, this month said it had decided to reimpose the 12% duty, which the government had dropped to zero in late 2007. The Finance Ministry has opposed that decision and asked for more details from the court. Deputy Finance Minister Carlos Casas said that this implies "more c... |
Zambia: cement traders reduce prices as supply stabilises08 March 2010, Published under Cement NewsMost cement traders in Lusaka have reduced the price of the commodity from K55,000 to K52,000. A Daily Mail survey at Chibolya market and Garden township reveals that outlets are selling a 50kg bag of Lafarge cement at between K52,000 and K53,000. MICMAR Investments Limited head of operations, Sandeep Dey, said the reduction is due to a notable discount given to traders by Lafarge Cement Zambia Plc which is being passed on to customers. “Depending on the quantity one is buying, a custo... |
India: cement players have posted mixed performance for February 2010: Sharekhan04 March 2010, Published under Cement NewsThe cumulative volume growth of these four leading domestic cement players for the month came in at 4.3 per cent YoY to 6.6Mt. Brokerage house Sharekhan is of the view that top four domestic cement players (ACC, Ambuja Cement, Grasim Industries and UltraTech Cement) have posted a mixed performance for February 2010. "In the Union Budget 2010-11 there were a couple of announcements that have increased the input cost for the domestic cement industry. The key changes are as follows: (a) exc... |