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Despite the fact that there is economic crunch and slump in the housing sector, the cement sector continues to be steady and is all set to add additional 50 million tonnes capacity this year, a top industry official has said.
Cement Manufacturers' Association President H M Bangur told media in a conference that the demand for cement has not come down. However, it remains to be seen what infrastructure policies are pursued after a new government takes over. This two-day long event, Green Cementech 2009, was conducted to hold discussions on what how to make Indian cement plants world class.
Bangur said that if the overall GDP of India grows at 7 per cent, the cement industry is expected to expand by 9 per cent to 10 per cent.
Regarding realty sector, he said, "when we say housing, we think about urban housing and real estate developers as the face of the industry. But they (developers) constitute only 5 per cent of the cement demand. In rural and semi-urban areas, where land is comparatively cheaper, construction activity has picked up."
Bangur who is also serving as the Chairman and Managing Director of Shree Cements remarked that though the government has taken up new initiatives on infrastructure, however they are still inadequate. The Economic Times
May 9, 2009
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