Modern Ghana logo

FEATURED: Are Muslims Victims Or Promoters Of Terrorism?...

18.05.2007 Business & Finance

GHACEM raises cement price

By The Ghanaian Times
GHACEM raises cement price

GHACEM Limited has increased the ex-factory price of a bag of cement from ¢59.225 to ¢62,100, citing increase in production cost.

The increase took effect from May 2.

Dr George Dawson-Ahmoah, Strategic Corporate Affairs Director of Ghacem, said in an interview that the increase was necessitated by the extra cost incurred in generating power to augment its energy needs, which had been reduced by 25 per cent, following the energy crisis.

Ghacem last month installed a 5.1-megawatt capacity generator at its factory in Tema and Dr Dawson-Ahmoah said this has enabled the company to increase production significantly.

"The company boosted its production in excess of over 200 tonnes in April, the highest in one month since its establishment, he said.

A survey conducted by the Times here showed that the price of cement on the market has fallen from ¢95,000 to ¢80,000.

He expressed the hope that as the company maintains the production level, "the forces of demand and supply will force the price further down."

Source: The Ghanaian Times