India Cements has reduced prices of its cement to INR255-265 per 50kg bag, in Chennai and Chengalpet and INR265 per bag to stockists in other districts of the state of Tamil Nadu. This has come in two days after the state government asked cement makers to take steps to cut escalating cost of the key construction component.
On Tuesday, Chief Minister M Karunanidhi had chaired a meeting of top heads of the state government and cement manufacturers, during which the government urged the latter to make efforts to reduce cement prices, which have been on the rise for the past few months, hovering around the INR290 per bag in the last few months. And it had lead to, some builders to import it from Pakistan and Bangladesh at cheaper rates.
