Cement demand has fallen 30% after cash ban: Burnpur

Hit by cash crunch due to demonetisation, secondary sales have been poor which has led to a price cut of Rs 20 per bag of cement in the eastern part of India, says Ashok Gutgutia, VC and MD of Burnpur Cement.

In an interview with CNBC-TV18, Gutgutia said that cement demand has fallen by 30 percent in the market post the cash ban and cement capacity utilisation has declined to 45 percent compared to 75 percent post the event.

The company plans to halt its capacity expansion plans till demand picks up, he added.Watch video for more...