Indian government mulls action against cement companies for cartelisation



Source: REUTERS

The government is considering action against cement companies for cartelisation, news channel ET Now tweeted on Friday quoting the union road minister.

“Government is mulling action against cement cos for cartelisation,” ET Now quoted the Minister Of Road Transport And Highways Nitin Gadkari as saying.

The Competition Commission of India had imposed a fine on 10 cement companies and a trade body for price fixing in 2016. ACC Ltd, Ambuja Cements Ltd, Ultratech Cement Ltd and Jaiprakash Associates Ltd were among those which were fined.

Separately, ACC and Ambuja Cements, which are owned by Swiss-based LafargeHolcim Ltd, had last month put their proposed merger on hold, due to constraints in implementation.

Source: REUTERS