Getting back its momentum, India's cement production rose by 17.6% in August over the same month last year due to robust demand from the construction sector. The output increased to 16.06 million tonnes in August from 13.66 million tonnes in the year ago period.
Mr HM Bangur president of Cement Manufacturers Association said that "This is really good to see that the Indian construction industry has got back its momentum and is witnessing robust growth. Despite the downturn, which started last year, the industry has created sufficient capacity to meet the demand.”
The sector had witnessed a growth of 16.7% in 2007-08, but its pace reduced to a mere 1.9% in the following fiscal under the impact of global economic meltdown.
Mr Bangur said that "We expect this growth to continue in the coming months also and looking for an overall increase of 10% to 12% in production of cement in this fiscal. The sector had produced about 180 million tons of cement in 2008-09s.
The cement industry maintained a consistent growth of over 11 percent in the first four months of this fiscal.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzAz/Indian_cement_production_in_August_up_by_18pct.html)
Monday, September 28, 2009
Indian cement production in August up by 18pct
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