L&T may import cement to curb price rise, India
Larsen & Toubro may resort to importing cement from countries like Sri Lanka, China and Korea to beat the volatile rise in cement prices. "In the event of increasing cement prices, we may resort to cement imports," KV Rangaswami, senior vice-president, operations, L&T, said.
Generally, cement constitutes 15% of the total construction expenditure, Rangaswami said.
Importing cement would only be last resort of the company when other options fail. "We will ask our clients to incorporate a cost adjustment clause for cement in the contract agreement. The price volatility could be adjusted this way," AM Naik, chairman & managing director of L&T, said. Published under Cement News
