TN cement firms may reduce prices by Feb 10

Private cement manufacturers have agreed to reduce cement prices before February 10, following the Tamil Nadu government's warning to take over cement factories in the state, if they failed to contain rising prices.

N Srinivasan, MD, India Cements met Chief Minister M Karunanidhi today, on behalf of the cement manufacturers and discussed the issue, an official release said.

Srinivasan had assured the Chief Minister that he would get back to him with a positive result after holding talks with other manufacturers before February 10, the release added.

The state government had on Wednesday last announced that it had no alternative but to takeover private cement factories in the state, if they did not come forward to reduce cement prices in public interest.

It had also decided to import 1 lakh tonne of cement by Tamil Nadu Cements Corporation through Metals and Minerals Trading Corporation and distribute through the state civil supplies corporation, the release said.

The construction industry and political parties had flayed the state government for not taking steps to reduce the cement prices. Shortage of cement had brought construction activities of the government and public to a grinding halt.