The cement industry on Monday denied charges of cartelisation and assured sufficient capacity additions to meet the rising demand. It also said that the price outlook for the commodity is stable for the near future. | |
| "The industry is making an investment of Rs 50,000 crore to add 110 million tonnes capacity over the next two-three years, taking the total production capacity to about 275 million tonnes," said H M Bangur, the newly elected president of the Cement Manufacturers' Association and managing director of Shree Cement. |
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| The demand for cement is expected to double every seven years but we are equipped to meet all of the needs, he added. |
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| Unlike last year, cement prices have been largely stable in the current financial year. "Price is determined by factors of demand and supply. The price increase in the current year has been just 3 per cent, which is less than the inflation rate. Prices are expected to remain stable as enough cement is available." Currently, cement prices are ruling in the range of Rs 225-230 per 50kg bag. |
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| The industry denied any shortage in cement supplies. "We do not find cement shortage in any part of the country, except in areas where logistics is a problem. There is no cartelisation in the industry since we are not hoarding inventories," said R G Bagla, group executive president, JK Cement. |
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