The inception of the cement industry in Bangladesh dates back to the 1950s, but its growth primarily took place in the last 15 years. Until 1990, about 95% of Bangladesh's demand for cement was met through imports. Since 1994, more than 120 companies were registered with the Board of Investment as cement manufacturers, but the competitive and investment-heavy market allowed only 62.5% of that market to survive.
The early 2000's saw a boom in the industry, resulting in a mass influx of competitors entering the sector to meet development needs. However, to add to the eventual stagnancy of the market, recession, political unrest and few natural calamities forced many competitors to wind up. But Confidence Cement Limited held strong in its position, still continuing to offer high quality cement to the customers.
Today the company has an annual production capacity of 120,000 tons, and aims to be one of the leading cement manufacturing company in Bangladesh through continuous development and consistent production of high quality cement.
Confidence Group continues to be one of the largest conglomerates in Bangladesh, embracing a diverse spectrum of business units ranging from power, manufacturing, shipping, to communication sectors in both domestic and international markets since 1991. Confidence Cement Limited is the pioneer venture of Confidence Group, commencing in 1991. It is also a leading Blue Chip company in both Dhaka and Chittagong Stock Exchange, being in the top 20 performing companies for the last 15 years.
From the start, Confidence Cement was to be based in Chittagong. The challenge however came in the form of setting up a river-side plant and the sourcing of raw materials. Cement industries worldwide are import based, and this setup along the rivers or sea-sides prove to be strenuous. Production is heavily dependent on imported raw materials such as clinker, about 80% of which is currently imported.
Moreover, Bangladesh lacks the mineral resources such as limestone and is unable to meet the demand of clinker by itself. We wanted to create cement within the country and help ease the balance of payments through lower cement import. Our location was geographically convenient, which helped improve the logistics and eliminated the problems with communications.