Bangladesh: MI Cement Factory Ltd plans to install new production unit soon to cater the growing demand for cement in the country.
"We have decided to set up another packing unit and a 1500t capacity cement silo to enhance the delivery capacity of our cement (Crown Cement)," said Mohammed Jahangir Alam, chairman of MI Cement. "This will also help maintain the quality of our cement and thus keep the pace of increasing revenue."
Bangladesh is preparing for development in public infrastructure, communication and housing facilities, said Alam. "The cement industry in Bangladesh is headed for a revolution," he said. High population densities in cities, unplanned urbanisation and rapid economic development are likely to expand cities vertically rather than horizontally to achieve maximum utilisation of available space and ensure future food security by not urbanising fertile land, he added.
Quoting a recent study, Alam said that the per capita cement consumption in Bangladesh was still low at 107kg, compared to 210kg in India, 265kg in Pakistan, 310kg in Sri Lanka and 570kg in Korea, indicating future growth of Bangladeshi cement consumption.
At present, MI Cement's total production capacity is 1.74Mt/yr. Alam said that in the fiscal year 2013 - 2014, the political unrest hampered MI Cement's day-to-day business activities and reduced its cement delivery to lower than expected. However, the company increased its revenue by 17% year-on-year to US$102m despite the political unrest. MI Cement sold US$86m of goods in the 2014 fiscal year, up from US$73.2m in 2013 in the previous fiscal year.
