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10% growth forecast for cement sector in 2021

10% growth forecast for cement sector in 2021

10% growth forecast for cement sector in 2021

New Delhi: The domestic cement industry is likely to witness a growth rate of over 10 per cent in 2021 on account of demand revival, according to ACC Ltd.

The government's spending on big infrastructure projects and affordable housing schemes such as Pradhan Mantri Awas Yojana (PMAY) with enhanced budgetary allocations would be "primary drivers of growth" for the cement industry, it said.

The cement industry had witnessed a de-growth of 10-12 per cent due to the Covid-related disruptions.

"The outlook for the cement sector in 2021 is robust, with growth estimated at more than 10 per cent Y-o-Y over that in 2020," ACC said in its latest annual report.

The demand revival is likely to be led by the north, east and central regions, it said. "The primary drivers of growth will be infrastructure and affordable housing.

Highways and roads, metro rail projects and dedicated freight corridors are expected to see increased levels of activity with sharply higher budgetary allocations in the next year," it added.

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