ACC seeks further rise in prices

MUMBAI: ACC has said that cement should be sold at Rs 300 per bag in the retail market if it needs to progress with its expansion plans for 2010. This is the first instance that any cement company here has called for such a large increase in prices. Today, the average price per bag hovers at Rs 250 per 50 kg bag on a pan India basis.

ACC managing director Sumit Banerjee told ET, ���Prices need to go up to Rs 300 per bag because current prices do not support ACC���s plans to invest in creating new capacities. It will not be easy for us to go ahead with our expansion plans.���