Cement demand in east to grow by 8-10% in FY20
Cement demand in the eastern region of the country is expected to grow by 8-10 per cent in the current fiscal despite slowdown in the economy, industry insiders said on Friday.
Demand for the construction material in the eastern part of the country will continue to be better compared to pan-India scenario in the current fiscal, according to a rating agency report.
Growth in cement demand in India is expected to be lower at seven per cent in the current fiscal, down from double-digit rise in the previous year, owing to slowdown in the economy, the report said.
“Cement demand growth during Q1 (April-June 2019) in the east was 15-16 per cent but since then it has tapered off. However, we expect strong demand in Q4 and hope to end the year with 8-10 per cent growth,” JSW Cement head (east) Gautam Mukhopadhayay told on the sidelines of a seminar organised by ICC.
Speaking about JSW Cement, he said the company will continue to go ahead with its expansion plans but in line with demand situation.