Lankan business tycoon Dhammika Perera has made a bold move into the cement industry by acquiring a 51% controlling stake in DHT Cement Ltd., through his newly formed investment arm, Vallibel X. The news was reported by the Daily Financial Times (DailyFT) Sri Lanka’s leading business daily.
The acquisition saw Dhammika purchase equal shares from four of the company’s original shareholders—two from Sri Lanka and two from India—for a total of $8 million. He then invested another $12 million in newly issued shares, bringing Vallibel X’s total investment in DHT Cement to $20 million.
DHT Cement, which produces its flagship product PowerTech Premium Cement, operates out of a state-of-the-art plant in Ekala equipped with German technology. The company is known for its focus on quality and sustainability, holding both the SLS 107 certification and ISO 9001:2015 accreditation. It currently holds an estimated 10% share of the local cement market, with a production capacity of 80 metric tons per hour.
The company supplies Ordinary Portland Cement in both bagged and bulk formats, catering to a wide range of construction needs from residential projects to large-scale infrastructure developments. DHT also offers technical support services such as mobile testing and on-site lab facilities.
This strategic entry comes at a time when the local cement market is showing signs of recovery.
Analysts expect a stronger recovery in the construction sector in 2025, with resumed government projects and lower interest rates likely to support a broader market rebound.
