Latest update January 20th, 2025 4:00 AM
TGI hikes cement price
The price of cement by one major supplier has gone up.
TCL has increased its cement prices by 8.7%, effective yesterday.
According to TCL Guyana Inc. (TGI), it has increased its prices 8.7% on the ex-terminal price of its Portland Pozzolan Cement with effect from yesterday.
The Trinidadian-owned company, said it will be implementing the current price adjustment in accordance with its phased approach, as was previously indicated. The last price adjustment was on May 1, 2013.
“This current adjustment is a consequence of increases in operating cost. Over the last year there have been increases in freight rates, the cost of spares, services and raw materials. Upward movement in foreign exchange rates has also had a significant negative impact.”
The company said it has been absorbing the rising costs, but now finds itself in the position where it cannot continue so to do.
“In recognizing that cement is a major element of Guyana’s economic growth, the projected increase has been kept to a minimum, and we are pleased to state that our price still remains at the lower end of the tier when compared in a global context.”
TCL says that independent studies by Quantity Surveyors have confirmed that the total cost of cement in a standard dwelling house is no more than 5-7 % of overall construction costs.
“Also in strong support of Guyana’s developmental goals, TGI is pleased to state that it will maintain its offer of a twenty percent (20%) discount for first time homeowners under the Government’s low-income earners housing initiative. The company has been supporting this programme since 2010.”
TGI yesterday said it remains committed to providing a superior quality product at a very competitive price and to the delivery of exceptional service and technical expertise.
“The company takes this opportunity to express its sincere gratitude to all loyal customers for their continued support and looks forward to further strengthening and deepening its stakeholder relationships.”
Cement has been a popular construction material in Guyana amidst a housing boom.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Mental illness is real and a serious public health concern
Peeping Tom… Kaieteur News- Mental illness is a reality we often acknowledge in passing but seldom confront with the... more
OAS Secretary General Election and renewed OAS Consensus
Antiguan Barbudan Ambassador to the United States, Sir Ronald Sanders By Sir Ronald Sanders Kaieteur News- The upcoming election... more
Weekend Cartoon
