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March 14, 2019 04:26 PM | Infrastructure

Cement prices stable in northeast, seeing uptick in demand, says Star Cement

Sanjay Gupta, CEO, Star Cement, on Thursday said cement prices are stable in northeast and the company is expecting an uptick in demand in a nine month period in this year.

“The total outstanding freight subsidy with the central government was around Rs 400 crore. We have received Rs 150 crore including the balance of Rs 35 crore, which has already been sanctioned is lying with the disbursing agency, we are going to get it in a week’s time” Gupta said.

Star Cement, which essentially operates in the northeastern region has received more than Rs 100 crore freight subsidy claims by the central government.

“After this, we are going to have one more receivable of Rs 250 crore from the central government. We expect this Rs 250 crore to come in the Q1 or Q2 of next year,” he said.
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