Indian producers promise price cuts

Indian producers promise price cuts
Published: 03 November 2010

A host of cement manufacturers assured Chief Minister M. Karunanidhi on Tuesday that they would soon convey to him a “favourable decision” they would take on the reduction of retail prices of cement.
The manufacturers gave the assurance at a meeting chaired by the Chief Minister at the new Secretariat (Omandurar Government Estate).

They responded to a request made by the State government at the meeting. P. R. Ramasubrahmaneya Rajha, chairman of Madras Cements, MAMR Muthiah, Managing Director of Chettinad Cements, PN Prabhakar, Executive Director of Dalmia Cements and N. Srinivasan, Vice-Chairman and Managing Director of India Cements, were among the captains of the cement industry who met the Chief Minister.

The meeting took place in the backdrop of rising prices of cement. In the open market, the price of Portland Pozzalana Cement (PPC), normally used in construction for functions such as foundation laying and centering, is in the range of Rs. 255 to Rs. 280 per bag, according to GA Rajkumar, Chairman-cum-Managing Director of the Tamil Nadu Cements Corporation (TANCEM).