Worried over surging cement prices, the Builders' Association of India (BAI) today said it plans to set up its own cement plants to cater to the needs of their own projects.
"We are worried over surging cement prices for the last few months. Therefore, we have decided to set up our own plants to cater to our own needs," BAI National President Cherian Varkey told reporters here.
"Some of the infrastructure and construction majors affiliated to BAI are now planning to set up their own cement plants and bring down the price of cement in the region of Rs 150 per bag as against Rs 250-300 per bag," he said.
BAI, an apex body of engineering construction contractors with 12,000 direct members and over 120 centres across the country, feels that it is right for members to set up their own cement manufacturing unit.
It plans to set up four mega plants in - Rajasthan, Gujarat, Andhra Pradesh and Chhattisgarh - and the first plant is likely come up in Andhra Pradesh in the next two-years.
Each plant's capacity will be 5-million tonne per annum.
