Sri Lanka cement production picks up

ECONOMYNEXT – Sri Lanka’s domestic cement production has grown 26.6 percent from a year earlier to 2.31 million tonnes in the first seven months of the year, while imports have also started to pick up, official data shows.

The demand for cement is driven by both state infrastructure projects such as expressways and domestic construction.

The Greater Colombo Housing Approvals Index plunged 7.8 percent in first quarter of 2019, central bank data shows.

In the second quarter the index picked up 1 percent.

Up to June 2019, cement imports were down 5.9 percent, to 2.49 million metric tonnes. The growth in imports and product was 3.9 percent by June to 4.1 million tonnes.

By August total production and imports were up 8.4 percent to 5.73 million metric tonnes. (Colombo/Nov25/2019)