India: 32 manufacturers to sell at INR230/bag

Telangana State Housing Corp has signed a MoU with 32 cement manufacturers this week. As per the MoU, the companies will supply cement at a price of INR230/bag (US$3.35/bag) for the next three years to the housing corporation.

With cement prices high on the open market, the state government negotiated with the manufacturing companies for reduced rates. Housing Minister Undrakaran Reddy thanked the participating firms for coming forward and supporting the housing scheme. Mr Reddy estimates that the project would require 2.73Mt of cement. He also stated that a special label would be printed on the cement bags supplied at a reduced rate to avert possible diversion.