Thursday, 30 June 2016

Cement Demand to Grow 6% in FY17

Demand for cement is likely to grow by 6 percent in the current fiscal and further rise to 7 percent in 2017-18, on improvement in infrastructure segment, says a report. According to rating agency Icra, cement demand was relatively muted at 5 percent in 2015-16. 

"Cement demand growth will pick up to 6 percent in 2016-17 and further to 7 percent in 2017-18... during the current fiscal, it is likely to be driven by the pick-up in the infrastructure segment -- primarily road projects and housing segment," Icra Ratings Senior Vice President Sabyasachi Majumdar said. 

"This apart, there is a likelihood of recovery in rural demand from the second half of the current fiscal given the expectations of a better monsoon," Majumdar added. 

Icra also noted that cement demand would also be supported by the construction of a new capital for Andhra Pradesh and the focus on irrigation and water grid schemes by Telangana. 

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