India: Telangana State Housing Corporation signs cement price MoU

The State Housing Corporation of Telangana has signed a memorandum of understanding with local producers to fix the price of supplied cement at INR230/bag (US$3.45), the New India Express reports.

The rate includes loading, transportation, unloading and all taxes. The average price of a bag of cement in India was INR285-290/bag at the beginning of the year, but substantially higher in Telangana and other southern states at around INR350/bag.

The State Housing Corporation is currently undertaking a programme to provide over 270,000 low-cost homes by the end of FY2017. The memorandum will be in effect for the the next three years, covering the whole of that period and beyond.