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TTMA: Cement price hike crippling construction
Trinidad Cement Ltd’s TCL’s May 2, 21 per cent price hike—the second since January—is causing additional problems for members of the T&T Manufacturers’ Association (TTMA). In a statement issued yesterday, the TTMA said it’s “very concerned about recent significant increases in the price of cement.”
“On May 2, contractors were informed of an increase of 19-21 per cent. The situation is affecting TTMA’s members and crippling the construction industry. The TTMA is aware that the ongoing industrial action at TCL has affected the company’s production, and its ability to meet local demand.
“The association notes that TCL raised its prices in January 2012 by between eight per cent and 12 per cent for different types of the product, which was the first increase in more than four years. Following the start of protests by TCL workers more than two months ago, cement prices continued to rise, and at times the market was forced to pay up to 50 per cent above normal levels,” read the TTMA statement.
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