India Cements has reduced the prices of cement to INR 255 to INR 265 per 50 kg bag, two days after the Tamil Nadu Government asked the cement manufacturers to take steps to cut the escalating cost of the key construction component.
In a statement here, the Chennai based company said that it has reduced the cost of a 50 kg bag to INR 255 in Chennai and Chengalpet and INR 265 per bag to stockists in other districts of the state. The company, however, did not mention the prevailing price at which it was selling to stockists.
On Tuesday, Mr M Karunanidhi chief minister of Chennai 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 during t he past few months, hovering around INR 290 per bag.
The increase in cement prices had forced some builders to import it from Pakistan and Bangladesh at cheaper rates.
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