The government has notified Nesher Cement Enterprises, it must cut prices due to lower priced inputs including oil.
Following a drop in the prices of raw materials for making cement, mainly oil prices, the Ministers of Finance and the Economy today notified Nesher Israel Cement Enterprises Ltd. of a 5.35% cut in the price of cement. The revision was according to a procedure stipulated in the arrangement with Nesher signed in September 2014.
Nesher, which previously owned the cement plant in Har Tuv, recently sold it to a new player, which will operate it as a new competitor. Israel Ports Company has published a tender for operating the cement unloading platform in Ashdod Port, which will increase competition from imported cement.
The Ministry of Finance stated, "The cut in cement prices will contribute to a fall in the prices of inputs in the construction and infrastructure sectors, and we hope that it will be passed on throughout the entire economy."
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