Cement prices increase by 8.7%

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timthumb[www.inewsguyana.com] – TCL Guyana Inc. has announced an increase in cement prices by 8.7%. According to the company, this increase is on the ex-terminal price of it Portland Pozzolan Cement, which will take effect from today, July 8.

“TCL Guyana Inc will be implementing this current adjustment in accordance with our phased approach as was previously indicated,” the company said in a statement; adding that its last price adjustment was on May 1, 2013.

This current adjustment is a consequence of increases in operating cost.

“Over the last year there have been increases in freight rates, the cost of spares, services and raw materials. Upward movement in foreign exchange rates has also had a significant negative impact. The Company has been absorbing these rising costs, but now finds itself in the position where it cannot continue so to do,” the statement pointed out.

In recognizing that cement is a major element of Guyana’s economic growth, the projected increase has been kept to a minimum, TCL assured; further explaining that its price still remains at the lower end of the tier when compared in a global context.

“Independent studies by Quantity Surveyors have confirmed that the total cost of cement in a standard dwelling house is no more than 5-7 % of overall construction costs. Also in strong support of Guyana’s developmental goals, TGI is pleased to state that it will maintain its offer of a twenty percent (20%) discount for first time home owners under the Government’s low-income earners housing initiative.”

TGI says it remains committed to providing a superior quality product at a very competitive price and to the delivery of exceptional service and technical expertise.

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