Cement companies in the UAE have been asked to reduce the price of cement by 22 per cent with effect from April 1.
The new price has been fixed at Dh280 for a tonne of bulk cement and Dh14 for a bag. Most factories have been selling bulk cement at about Dh330 to Dh360 per tonne, while bags are priced at Dh16 and an additional dirham is levied as transport charges.
The Ministry of Economy, in co-ordination with the Cement Producers Group, has decided to revise the cap on prices, in keeping with the prevailing conditions, said Mohammed Ahmed bin Abdul Aziz Al Shihhi, Director General of the ministry.
Speaking to Emirates Business yesterday, he said: "We had a previous cap on cement prices. But the prices of oil and raw materials have gone down, which prompted us to revise the prices," said Al Shihhi. "All cement factories have been informed about the new price levels and we will once again send a reminder," he added.
A senior official from the cement industry said members of Cement Producers Group would meet ministry officials on April 1.
Meanwhile, Dubai Customs yesterday said the decision to reintroduce customs duty on the import of cement and steel has been made effective from February 15.