Thought for a second
“Dhammika Perera Takes Control of DHT Cement, Pledges Growth in Sri Lanka’s Construction Boom”
Colombo, Sri Lanka — Business magnate Dhammika Perera has acquired a 51% stake in DHT Cement Ltd., marking his entry into Sri Lanka’s cement sector. The purchase—valued at USD 8 million for existing shares plus USD 12 million in new equity—was executed through Perera’s investment vehicle, Vallibel X.
DHT Cement, producer of the PowerTech Premium Cement brand, operates an 80 tons/hour plant at Ekala equipped with German technology. The company currently holds about 10% of Sri Lanka’s 4.45 million-ton cement market. With fresh capital and Perera’s strategic oversight, DHT aims to expand capacity, sharpen distribution, and vie with industry leaders Tokyo Cement and INSEE Sanstha.
Sri Lanka’s cement consumption rebounded 22% in 2024, driven by rising local production (+31%) and reduced imports (–2.5%), according to the Central Bank. Analysts at CT CLSA Securities forecast further growth in 2025 as government infrastructure projects resume and financing costs ease.
However, local manufacturers face a heavy para-tariff burden—nearly 22% of the retail price—on clinker imports and development levies, squeezing margins. Perera’s playbook may include backward integration for clinker supply and bundling cement with his existing construction-materials businesses to offset costs.
“The construction sector is poised for a strong recovery,” says CT CLSA. “DHT Cement, under Vallibel X, is well-placed to capture this upside.”
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