Cement prices are expected to drop from over Dh25 per sack to as low as Dh17 to Dh11 following a settlement made by the UAE Contractors Association with local cement producers.
According to the settlement, the cement factories have to supply contractors with their needs of cement, and save them from having to resort to the black market or middlemen to procure supplies.
The expected drop is a result of three-month negotiations between the association and the major local cement producing companies.
Humaid Salem, manager of the association, stated that the association will hold a meeting with the producers of readymade concrete and cement this month in a bid to bring down prices of these building materials to their previous levels.
Gulf News reported that the meeting will also discuss unifying cement producers with the association to prevent similar increases in cement prices in the future. (menareport.com)
© 2004 Mena Report (www.menareport.com)
