Economy & Market
Blow to construction biz in Kochi as cement prices hiked
In Kochi city of Kerala, construction industry has come to a standstill due to hike in cement prices. The cement manufacturing companies have increased Rs 35 to Rs 65 for a bag of 50 kg, pushing up the construction cost a flat 15 per cent. The cement price which was Rs 310-325 range for a bag of 50 kg three months ago now costs around Rs 380. Kochi city, which consumes cement worth about Rs 2500 crore annually, is one of the worst hit places in Kerala as the building activity is on the higher side in the city. Builders associations in the area have demanded the intervention of the government to resolve the crisis. Builders' Association of India said that in states like Tamil Nadu government asks cement companies not to hike the price of cement but in Kerala this is not happening.