Lebanon’s outgoing Minister of Industry, Imad Hoballah, indicated that the country would allow individuals to import cement to lower the price of cement. Cement prices have risen from LBP240,000/t (US$159.20/t) to LBP1.3m/t following the total closure of the country, including its cement plants, between 14 January-7 February.

Imported cement must meet specific technical criteria and be cheaper than LBP240,000/t. However, no decisions have been made in terms of volumes as the ministry wants market rules to apply.

The step would challenge the current oligopoly of Holcim-Liban, Ciment de Sibline and Cimenterie Nationale, reports L’Orient-Le Jour. In a statement, the three cement companies have said that they respect the set prices and undertake to deliver directly to customers, who as a result do no need to go through intermediaries.