In light of the planned price hike of imported cement by Rock Hard Cement, Trinidad Cement Limited (TCL) has assured that they have no intention of doing the same.
TCL, in an advertisement on Sunday, said it continues to be committed to supporting the local economy and having a positive impact on Trinidad and Tobago in 2021 and beyond.
“Therefore, we want to emphasise that TCL has excess capacity to adequately supply the local market as well as the export market.
Rock Hard Cement, the main importer of cement into T&T, warned on Saturday that government’s removal of tariffs and the increase in duties on cement initially by 35 per cent and by another 50 per cent more recently will cause “a price increase in excess of 80 per cent“ for cement sold on the local market.
However, the Claxton Bay based TCL, in there release yesterday said: “Please note that TCL has not announced any price increases effective January 1, 2021. We will continue supporting our customers and the public by not increasing our cement prices in the short term.”
They further stated “The Claxton Bay plant is now able to compete not only in the local market, but also in more than 20 export markets in the region. The plant at Claxton Bay has become one of the top three non-gas exporters and foreign exchange generators for T&T.”
The Minister of Trade and Industry (MTI) has pledged to safeguard the welfare of all consumers of cement.