Cement prices likely to nosedive in TN

Chennai, Sep 7 (UNI) Cement prices are likely to witness a downward trend in Tamil Nadu as the Centre has allowed the Tamil Nadu Cement Corporation to import 18 lakh tonnes of cement.

Giving this information, Higher Education and Minerals Minister K Ponmudi, who held talks with Commerce Minister Kamal Nath in this regard, said in a statement here that the 18 lakh tonnes of cement would be imported, at 1.50 lakh tonnes per month.

Besides, the Centre also permitted TANCEM to import five lakh tonnes of cement through the Minerals and Metals Trading Corporation, he said, adding that this would ensure cement was freely available in the State and help to bring desirable changes in the price.

Mr Ponmudi said that on a directive from Chief Minister M Karunanidhi, he had held talks with leading cement manufacturers in the State to step up production and bridge the gap between demand and supply.

Meanwhile, Mr Karunanidhi wrote to the Centre to allow the State to relax the rules on quality certificate for importing cement.

The State Government pleaded that the Centre should permit TANCEM to import cement from foreign manufacturers, who had registered with India for obtaining quality certificate, like allowing the Minerals and Metals Trading Corporation.

UNI