SICMA assures Tamil Nadu govt to contain cement costs
11 Apr 2022
2 Min Read
CW Team
The South Indian Cement Manufacturers Association (SICMA) had assured the state government to contain the cement prices.
The Association sought the government鈥檚 support to surge over the coal shortages, affecting various operations, resulting in higher operations costs.
This assurance comes during the unprecedented spike in the cost of various construction materials, including cement, in the last two years, which adversely affected builders and developers.
SICMA representatives, Ramco Cements, India Cements and others met state industries minister Thangam Thennarasu.
President of SICMA, N Srinivasan, told the media that there had been a steep rise in the price of every input material for cement, especially coal.
He said that despite the commodity prices having increased and the Ukraine crisis affecting petroleum products, transport costs and packing materials, the industry would strive to contain costs.
He added that compared to prices a year ago, the wholesale price index of cement has dropped by 3%.
According to a statement, SICMA highlighted that Tamil Nadu is being deprived of domestic coal from Singareni or western coalfields and is further depending on imported coal for power supply and fuel.
The cost of imported coal has increased by 4-5 times in the last few months. The ongoing Russia-Ukraine war has lowered the availability of coal.
Now, new coal consignments are not only costlier but also difficult to source, urging the government to find new ways to help the industry.
Also read: Cement production may be impacted as coal and pet coke costs surge
The South Indian Cement Manufacturers Association (SICMA) had assured the state government to contain the cement prices.
The Association sought the government鈥檚 support to surge over the coal shortages, affecting various operations, resulting in higher operations costs.
This assurance comes during the unprecedented spike in the cost of various construction materials, including cement, in the last two years, which adversely affected builders and developers.
SICMA representatives, Ramco Cements, India Cements and others met state industries minister Thangam Thennarasu.
President of SICMA, N Srinivasan, told the media that there had been a steep rise in the price of every input material for cement, especially coal.
He said that despite the commodity prices having increased and the Ukraine crisis affecting petroleum products, transport costs and packing materials, the industry would strive to contain costs.
He added that compared to prices a year ago, the wholesale price index of cement has dropped by 3%.
According to a statement, SICMA highlighted that Tamil Nadu is being deprived of domestic coal from Singareni or western coalfields and is further depending on imported coal for power supply and fuel.
The cost of imported coal has increased by 4-5 times in the last few months. The ongoing Russia-Ukraine war has lowered the availability of coal.
Now, new coal consignments are not only costlier but also difficult to source, urging the government to find new ways to help the industry.
Image Source
Also read: Cement production may be impacted as coal and pet coke costs surge
Next Story
RentenPe and Mygate Partner to Transform Rent Payments in India
Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..
Next Story
Supreme Unveils New Brand Identity to Elevate Lifestyle
Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group鈥檚 refreshed vision to 鈥楨levate Lifestyle鈥�. This brand transformation represents more than a visual refresh鈥攊t marks a strategic shift in the company鈥檚 mission, visual identity and market positioning. The update will be visible across all of Supreme鈥檚 digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..
Next Story
Capri Loans Launches #TarrakiKeHaath Campaign Honouring India鈥檚 Everyday Heroes
Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India 鈥� from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans鈥� long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat鈥檚 economy. Conceptualized by Rediffusion Brand Solutions, the..