+
Cement price cartelisation allegations trigger CCI raids
Cement

Cement price cartelisation allegations trigger CCI raids

Competition Commission of India (CCI), India’s antitrust body, conducted raids this week at offices of UltraTech Cement and two subsidiaries of LafargeHolcim. Simultaneous search operations were also conducted at multiple locations in India.

Swiss-based LafargeHolcim confirmed in a statement that officials visited the Mumbai offices of ACC and Ambuja Cement, and stated that the companies were fully cooperating with the authorities.

Media reports also say via sources that searches were conducted at Indian company Shree Cement Ltd. None of the Indian cement companies were willing to comment.

Following the news of the raids, shares of major cement companies were down between 3% and 5% in intra-day trading on Thursday.

So far, there has been no comment from CCI regarding the matter. No details are updated about ongoing public raids or cartel cases. Commerce Minister Piyush Goyal had announced in the parliament last year that the CCI was examining complaints of cartelisation by cement companies. CCI had imposed a heavy penalty of $1.1 billion on several cement companies in 2012. They were accused of using their plants to create a shortage of cement. An appeal is still pending for that decision.

CCI, in recent years, has also raided offices of other foreign companies such as Carlsberg and Glencore on allegations of price collusion in their industry.

India is the second-largest cement producer in the world. The country accounted for 8% of global installed capacity in 2019. During 2019-2020, the cement sales in India stood at $9 billion.

Competition Commission of India (CCI), India’s antitrust body, conducted raids this week at offices of UltraTech Cement and two subsidiaries of LafargeHolcim. Simultaneous search operations were also conducted at multiple locations in India. Swiss-based LafargeHolcim confirmed in a statement that officials visited the Mumbai offices of ACC and Ambuja Cement, and stated that the companies were fully cooperating with the authorities. Media reports also say via sources that searches were conducted at Indian company Shree Cement Ltd. None of the Indian cement companies were willing to comment. Following the news of the raids, shares of major cement companies were down between 3% and 5% in intra-day trading on Thursday. So far, there has been no comment from CCI regarding the matter. No details are updated about ongoing public raids or cartel cases. Commerce Minister Piyush Goyal had announced in the parliament last year that the CCI was examining complaints of cartelisation by cement companies. CCI had imposed a heavy penalty of $1.1 billion on several cement companies in 2012. They were accused of using their plants to create a shortage of cement. An appeal is still pending for that decision. CCI, in recent years, has also raided offices of other foreign companies such as Carlsberg and Glencore on allegations of price collusion in their industry. India is the second-largest cement producer in the world. The country accounted for 8% of global installed capacity in 2019. During 2019-2020, the cement sales in India stood at $9 billion.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code