Dominican cement producers will meet over high prices, costs

Dominican cement producers will meet over high prices, costs
Published: 04 August 2008

Cement producers in the Domincan Republic are set to meet to analyse the costs in the construction sector with Industry and Commerce minister Melanio Paredes, who said  the country just needs to wait and see how the global market reacts to falling oil prices.

On Tuesday construction industry representatives complained of rising prices of materials and interest rates in banks and savings and loan associations, factors they say have also "slowed" the real estate industry.

Some cement producers have lost customers and others have their plant projects stalled due to higher costs.

In a letter sent a to Paredes, the producers stress the need to review the prices of construction materials, arguing that costs in their production processes have jumped in the last seven months.

Major construction industry representatives had asked for alternatives to prevent its collapse, and protect its more than 260,000 jobs.