Colombo – April 24: Sri Lankan business magnate Dhammika Perera has made a major foray into the cement industry, acquiring a controlling 51% stake in DHT Cement, a joint venture between Indian and Sri Lankan investors. The move marks Perera’s latest diversification into a critical sector of infrastructure development, positioning his investment company, Valible X, at the forefront of the island’s construction supply chain.
DHT Cement, known for producing the “Powertech Premium Cement” brand, will now operate under the majority ownership and strategic direction of Valible X. Perera acquired his stake for $8 million, purchasing equal shares from four founding shareholders—two from India and two from Sri Lanka.
In addition to the share acquisition, Valible X has injected a further $12 million into the company by subscribing to newly issued shares, bringing the total investment to $20 million. This infusion of capital is expected to strengthen the company’s production capacity and market competitiveness.
The DHT manufacturing plant, located in Ekala, is equipped with state-of-the-art German technology. Industry insiders note that it stands out for both operational efficiency and its environmentally responsible practices. With its advanced machinery and focus on sustainability, the plant is poised to set new benchmarks in the local cement market.
DHT Cement produces and distributes Ordinary Portland Cement (OPC) and its flagship “PowerTech Premium Cement” in bagged form, catering to retail and medium-scale construction projects. It also supplies bulk cement for large infrastructure developments, high-rise structural work, and engineering applications—making it a significant player in Sri Lanka’s booming construction sector.
Perera’s entrance into the cement industry comes at a time of growing infrastructure demand and offers a strategic complement to his wider portfolio, which spans sectors such as finance, manufacturing, power, and technology.
Industry analysts suggest this move could increase competition in the cement space, lower import dependency, and potentially stabilize domestic prices through enhanced local production.
With the backing of Valible X and Dhammika Perera’s business acumen, DHT Cement now appears poised for significant growth both in domestic and regional markets.
