Economy & Market
Vijayawada builders to import cement to combat alleged cartelisation
Alleging that cement companies were engaging in cartelisation, builders' associations in Vijayawada have decided to import cement from Sri Lanka, China, Bangladesh, Malaysia and Korea.
According to estimates from these builders, the import of cement from the countries indicated above would reduce the price per bag by around Rs 30, which will eventually benefit consumers as construction prices will come down.
The Vijayawada chapters of the Confederation of Real Estate Developers' Associations of India (CREDAI), Andhra Pradesh Real Estate Developers Association (APREDA) and Capital Region Builders Association (CRBA) have formed a joint action committee (JAC) to oppose the alleged cement cartel.