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LafargeHolcim Bangladesh has entered into the concrete block market in Bangladesh, expanding its product portfolio as part of diversifying its business.
The multinational cement maker officially introduced the concrete block under the brand name 'Holcim Block' on Saturday at a city hotel, says a press release.
Md Ashraful Islam, director general of the Housing and Building Research Institute, was present as the chief guest at the launching event, while Engineer Mohammad Abu Sadek, executive director of the institute, presented a keynote paper.
Asif Bhuiyan, chief corporate affairs officer of LafargeHolcim Bangladesh, said, “Concrete blocks are more environment-friendly and durable than conventional bricks. Due to low carbon emissions during the production process, the demand for these blocks is increasing worldwide.”
LafargeHolcim aims for a better sustainable tomorrow and Holcim Block will play a significant role in this journey, he added.
Ashraful Islam said, “The government has targeted using concrete blocks in all its projects by 2025 and adopted a plan to close down the traditional brick kilns.”
Mohammad Abu Sadek highlighted the advantages and disadvantages of eco-friendly concrete blocks and red brick, respectively. He also emphasised that concrete blocks reduce the overall construction cost.
In terms of the brick market, Bangladesh ranks fourth in Asia. Bangladesh is currently undergoing rapid urbanisation and economic growth. It is expected that the demand for blocks will increase in the future.
At present, 99 per cent of the bricks in the Bangladesh market are being produced by traditional brick kilns, involving high carbon emissions, the destruction of top soil and deforestation.
Concrete blocks will play a significant role in the journey towards sustainable construction and environmental protection, according to the press release.
LafargeHolcim reported record sales and profit for 2023, backed by what the multinational cement maker said was a diverse product portfolio and innovative building material solutions.
The company’s sales grew 20 per cent year-on-year to Tk 28.39 billion last year, while profit jumped 34 per cent to Tk 5.94 billion in 2023, compared to the previous year.
Based on the remarkable profit growth, the board of directors declared a 50 per cent cash dividend (Tk 5 per share) for 2023, the highest in its history since 2003, when it got listed in the stock market.
The company's stock price advanced 0.54 per cent to close at Tk 74.90 on Sunday.