India: Assam property developers concerned over cement price rise

India: Assam property developers concerned over cement price rise
24 August 2016

The Assam Real Estate and Infrastructure Developers Association (Areida) has said that a proposed rise in cement prices is “unreasonable”, the Times of India reports.

Following intervention by Assam’s Chief Minister, Sarbanada Sonowal, the cement companies elected not to go through with the price increase. Despite this, Areida has said that it will still approach the Competition Commission of India (CCI) with its concerns.

Areida President, PK Sharma, said: "The price of cement in Assam and other parts of the northeast is already the highest in the country despite the fact that local cement companies get numerous subsidies under the North East Industrial and Investment Promotion Policy. We have gathered data and will shortly move CCI. In a similar case, CCI had slapped a fine of INR63bn [US$940m] on 11 cement companies for 'cartelisation'.

"Cartelisation by cement companies has become a serious issue. It affects the common man for whom we build homes. We urge the government to continue with its efforts to ensure 'affordable housing'. We, as bulk purchaser of cement, are extremely aggrieved by this proposed unfair price hike."

Published under Cement News

Tagged Under: cement prices India