Holcim says India among best cement markets in Asia
India is among the robust of cement markets in Asia, said Holcim, the Switzerland-based cement major. It has said so at a time when the country's cement sector faces rising costs and poorer-than expected demand, despite this being the peak construction period.
Holcim operates in India through group companies ACC and Ambuja Cements. It has said its outlook for Asia continues to be positive and that India, Indonesia and Philippines rank among the most promising growth markets. Its latest annual report says prospects for the construction industry are very good in these countries, given the high demand for infrastructure expansion projects, as well as the need for low-cost housing.
Both ACC and Ambuja sold more cement in calendar year 2012, primarily in the first half. In response to mounting inflation, the (Indian) government postponed a number of infrastructure projects in the second half, and higher interest rates reined in demand for commercial and industrial buildings, the report said. Holcim is expanding its production capacity in India.