India:Dungsam Cement waiting for Indian market to pick up

Bymc2008

Updated Wed, 22 Jun 2016 13:43:54 GMT

Bhutan: Dungsam Cement is waiting for the market to improve in India following announcements of infrastructure development from the government. The latest budget in the neighbouring country is expected to boost demand for cement and steel in the north-eastern region of India and in Bhutan. The cement producer made a loss of US$10.9m in its last financial year, according to the Bhutan Broadcasting Service.

“We are eagerly waiting for the release of the development budget. We have 593 hours worth of cement silos full and waiting to be dispatched in the northeast,” said Dungsam Cement’s CEO, Dorji Norbu.