Business Daily from THE HINDU group of publications
Wednesday, Nov 28, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Nov 28, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Cement ‘Cement prices likely to remain stable’ Our Bureau New Delhi, Nov 27 The Government on Tuesday said cement prices are likely to remain stable during the medium term in light of capacity addition by the industry coupled with a liberal import policy. “Cement prices have been stable for sometime. With a liberalised import regime, we hope that the situation would be reasonable,” the Secretary in the Department of Industrial Policy and Promotion, Mr Ajay Shankar said on the sidelines of the Tenth International Seminar of National Council for Cement and Building Materials. Rapid growthThe cement industry is undergoing rapid expansion with new plants being commissioned, he said. The industry is expected to add 100 million tonnes capacity till 2011-12. In a bid to augment the domestic supply of cement, the Government has brought down import duty on cement to zero, removed countervailing duty and special additional customs duty, besides allowing MMTC to import the building material. As per estimates of the Cement Manufacturers’ Association, total cement production was 155.66 million tonnes in 2006-07. “Industry has made full use of the opportunity and has expanded its capacity to 177 million tonnes by 2006-07, which is not only adequate to fully meet the entire domestic demand but also export nine million tonnes. This has helped India become the second largest producer of cement in the world after China,” Mr Shankar said. More Stories on : Cement
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