India cement units are cooperating closely with CCI, says Holcim

Swiss cement major's India units facing cement cartelisation probe

Swiss cement major Holcim’s India units —  Ambuja Cements and ACC — are cooperating closely with the Competition Commission of India (CCI) on the cement cartelisation probe, a Holcim official said.

The official refused to comment further as the matter is still ongoing. The official was responding to an email query from Business Standard on the CCI probe and its impact on the sale of Holcim's India-based cement companies.

The Holcim official did not comment on the sale of its India units, calling them “market rumours”.

On December 10, 2020, the CCI initiated a fresh probe against Indian cement companies