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Suresh P. Iyengar

Mumbai, Aug 1

“We received a MRTPC a notice in 2005 for which we replied in November and then again in March 2006. We made it clear to the authorities that we are not part of any cartelisation,” said Mr Vinod Juneja, Joint Managing Director, Binani Cement.

“How can there be cartelisation, when most companies are running at more than their installed capacities. Prices are rising because of good demand,” he added.

Blaming the builders’ lobby for the confusion, Mr Juneja said “cement constitutes just 10-12 per cent of the total cost of construction. Moreover, cement companies are incurring additional cost due to price rise in fuel, labour and raw material, besides local taxes.”

More Stories on : Regulatory Bodies & Rulings | Cement

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