Displaying items by tag: Import
JSW Group cuts Chinese imports
03 July 2020India: JSW Group says that it will cease US$400m/yr worth of imports of Chinese equipment and materials due to Chinese military activities on the Sino-Indian border in Kashmir. Managing director Parth Jindal said, “The unprovoked attack by the Chinese on Indian soil, on our brave jawaans has been a huge wakeup call and a clarion call for action.”
Bangladesh Cement Manufacturers Association lobbies against income tax and import duties
22 June 2020Bangladesh: The Bangladesh Cement Manufacturers Association (BCMA) has suggested the removal a 3% non-refundable advance income tax (AIT) and a 3% import duty on raw materials, as well as the reduction of a US$5.88/t import duty on clinker by 40% to US$3.53/t. The Dhaka Tribune newspaper has reported that BCMA members are struggling to pay their dues due to the impacts of the coronavirus lockdown, which caused the sector a loss of US$353m between 21 March 2020 and 21 June 2020.
BCMA President Mohammed Kabir said, “To generate taxes and revenue from this sector, the government should save our businesses and meet our logical demands in the final budget. We are really frustrated that our demands were unaddressed in the proposed budget. Our working capital will dwindle if the government keeps charging the AIT.” He added, “If the government does not remove the 3% non-adjustable AIT, then at least it should be declared as adjustable tax.”
Cementos Argos to enter Guatemalan market
16 June 2020Guatemala: Colombia-based Cementos Argos has announced that it is “exploring opportunities for importing cement into Guatemala.” Subsidiary Argos Guatemala will be responsible for the import and commercialisation of the cement, which will be produced by Cementos Argos in Panama.
Barbados: The Caribbean Court of Justice (CCJ) has ruled in favour of the Council for Trade and Economic Development (COTED) in its dispute with Trinidad and Tobago-based Rock Hard Cement. Stabroek News has reported that Rock Hard’s products had previously attracted a 5% import duty due to their classification as ‘other hydraulic cements.’ However, in mid-2019 COTED approved a decision by the Caribbean Community (CARICOM) to permit Barbados to enforce a tariff of 35% on this class of goods, compared to 15% on ’grey cement’ until mid-2021 in order to protect domestic producer Arawak Cement. The court found this reason to be, “within the rule of law.”
Honduras: The government says that it will not raise import duties on cement so as not to impact negatively upon “the construction industry and consumer.” The La Prensa newspaper has reported that Minister of the Secretariat of Economic Development María Antonia Rivera said, “The Government is defining regulations on the quality of imported cement and cement made in Honduras. We have no plans to increase tariffs; rather we are promoting price stability.”
Uzbek government lifts cement import ban
26 May 2020Uzbekistan: Imported cement has begun to enter Uzbekistan after the government ended a ban on the ‘import of cement products’ on 23 May 2020. Uzbekistan Daily News has reported that the protectionist measure was lifted due to a spike in cement demand from the construction sector following an easing in the country’s coronavirus lockdown.
Cement sales surge in Paraguay
19 May 2020Paraguay: Industria Nacional del Cemento (INC) has reported sales of 79,800 bags/day of cement between 4 May 2020 and 8 May 2020. Demand had collapsed in April 2020 due to restrictions on construction resulting from the coronavirus outbreak. Esmerk Latin American News has reported that newly reopened distributors collected their orders and that a number of customers purchased more than their usual volume in anticipation of a further easing of lockdown. INC has placed an order for 40,000t of imported clinker to help production to meet demand.
Gabon: Data from the Directorate General of Economy and Tax Policy shows that national cement production rise by 10.6% year-on-year to 0.54Mt in 2019. The improving trend has been attributed to better use of existing manufacturing equipment and the resumption of activity at the CimGabon plant in Ntoum, according to the L’Union newspaper. Clinker imports also grew, by 14.6% to 0.44Mt. Overall cement sales increased by 8.5% to 0.53Mt.
Cem’In’Eu plans second grinding plant
05 May 2020France: Cem’In’Eu has announced plans to establish a Euro23.0m grinding plant at Portes-lès-Valence in Drôme department. The La Tribune newspaper has reported that the plant will receive imported clinker produced at Adana Çimento’s 5.2Mt/yr integrated Adana plant in Turkey by river and rail from the port of Sète. Cem’In’Eu president and Vincent Lefebvre said that the location “allows us to be in the middle of a Lyon-Marseille-Montpellier triangle but also to be connected to the Alpine valleys.”
The grinding plant is due for commissioning in mid-July 2021, however the coronavirus has delayed the start of construction.
Turkmen producers to produce basalt cement
04 May 2020Turkmenistan: Cabinet of Ministers’ Deputy Chair Shamuhammet Durdylyev has announced plans for the country to produce a new grade of cement. Turkmenpor News has reported that the cement, designated 500-G20-K, will contain basalt porphyries. Durdylyev has said that the Ufra deposit in the Balkan region of western Turkmenistan will supply the basalt porphyries, adding, “These mineral substances significantly improve the quality of cement.”
The move’s aim is reportedly to boost Turkmen cement plants’ productivity without increasing the reliance on imports.