Coal news and updates

Cement Corp to hike prices post Green cess hike

The hike in clean energy cess is likely to impact the input cost for cement manufacturers as well. A top official of Cement Corporation of India (CCI) told on Friday that prices per bag of cement sold by the company would be hiked as a result of this.

The CCI official said that the Government of India enterprise now enjoys 5% market share in Assam, 4%-5% market share in the Hyderabad region and 2%-3% in Uttarakhand

Incidentally, coking coal is one of the main inputs for cement manufacturers, which would see a rise in total raw material costs due to the hike in the Green cess. A hike in the clean energy cess on coal to Rs 400 per ton of coal mined was announced in the Budget. It is for the third time in a row that the clean energy cess has been increased as part of the Budget announcements.