China-invested Hongshi Shivam Cement Company has sold cement worth Rs 62 billion.
Shivam Cement has sold clinker and cement worth Rs 62 billion over the last four years, said the company.
Hongshi has sold cement and clinker worth over Rs 17.4 billion rupees in the fiscal year 2078/079 BS.
In the fiscal year 2077/078, it sold 17.45 billion. Compared to 2077/078, the business has gone down by 410 million rupees, according to data.
The increase in the price of coal in the world market affected the Nepalese cement industry.
In the financial year 2076/077 BS, the turnover was Rs 13.37 billion. Similarly, in the year 2075/76 BS, the turnover was put at 13.37 billion rupees.
Established in 2072 BS, the company is based in Nawalpur. The company is currently manufacturing OPC and PPC cement under the Hongshi brand.
It started production of cement from March 2018 and clinker from May of the same year. It has been more than 4 years since the company started production.
Although the production started in the financial year 2074/075 BS, the production went into full swing in 2075/076 BS.
Production is gradually increasing as per the company's capacity. Hongshi Group owns 70 percent of the company's shares which has been operating more than 50 large cement industries in China.
Hongshi calso has investments in Laos, Indonesia and Myanmar. Shivam Holding Limited has 30 percent of its shares.
Cement accounted for 53 percent of the company's total sales, while the share of cement was 42 percent last year. .
The company, which has a production capacity of 6,000 per day, is preparing to increase it to 12,000 per day.
Vishwanath Goyal, vice president of Hongsi Shivam Cement, says that they will run a 12,000-capacity factory with a conveyor belt from the limestone quarry in Palpa.
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