Ramco Cements Urges Tamil Nadu Government to Reconsider Limestone Tax

Ramco Cements Limited has expressed concerns over the Tamil Nadu government's proposal to levy an additional Rs 160 per tonne tax on limestone, a key raw material for cement production. The company has urged the government to reconsider this proposal, citing its adverse impact on the cement industry in the state. The tax is expected to increase cement production costs significantly, which may lead to higher prices for end-users. Ramco Cements, with a substantial presence in Tamil Nadu, is among the most affected companies. Industry experts suggest that to offset these costs, cement prices may need to rise by Rs 8-10 per bag. This development could lead to a broader trend of similar taxes being introduced in other states, further challenging the cement sector.

 

Source: Cement Industry News Network