ACC has insisted that cement should be sold at Rs 300 per bag in the retail market if it needs to go ahead with its growth plans for 2010, reports Economic Times.
This is the first instance that any cement company has called for such a big hike in prices.
Today, the average price per bag hovers at Rs 250 per 50 kg bag on a pan India basis.
The company said that prices need to go up to Rs 300 per bag because current prices do not support ACC`s plans to invest in creating new capacities.
It will not be easy for us to go ahead with our expansion plans.