Cement makers reassure Nitin Gadkari of fair pricing for expansion

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New Delhi | Published: June 1, 2017 8:41:32 PM

Cement manufacturers have reassured Union Minister Nitin Gadkari of cooperation towards arriving at a transparent pricing for NHAI, which is expanding its road network.

nitin gadkari, Cement manufacturers, transparent pricing for NHAI, road network, highway projectsDuring the interaction, Gadkari had raised concerns that with rising demand of cement for expanding road construction, the perception is that the cement Industry was deliberately hiking prices.(PTI)

Cement manufacturers have reassured Union Minister Nitin Gadkari of cooperation towards arriving at a transparent pricing for NHAI, which is expanding its road network. A delegation, representing about 70 per cent manufacturers, met the Union Minister for Road, Transport & Highways Nitin Gadkari yesterday and discussed about the pricing of cement for the highway projects, said a statement. During the interaction, Gadkari had raised concerns that with rising demand of cement for expanding road construction, the perception is that the cement Industry was deliberately hiking prices.

This was despite no corresponding increase in input costs, making current prices unjustified, it added. “The delegation provided clarifications on all accounts. Firstly, the current cost of cement, contrary to public perception, was lower than its cost in 2015,” it said adding, in the last five years, there has been a CAGR increase of only 1 per cent, as against inflation of 6-7 per cent. Gadkari was receptive to the views of the cement industry and urged the players to work towards improving its public perception. He asked the Industry players to devise a scientific mechanism to arrive at a transparent price for NHAI.

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“He asked the Industry players to devise a scientific mechanism to arrive at a transparent price for NHAI,” it said. The delegation included N Srinivasan, Past President, CMA, and Vice Chairman & MD, India Cement, along with H M Bangur, MD Shree Cement, K K Maheshwari, MD UltraTech Cement, Ajay Kapur, MD & CEO, Ambuja Cement and Aparna Dutt Sharma, Secretary General, CMA.

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