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Article: Kenya : Construction slump pulling down price of cement in Kenya.
- Article from:
- TendersInfo
- Article date:
- December 4, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Cement makers, who anticipated a continuing housing boom this year, are now scrambling to off-load excess stocks at discount prices, in one of the clearest indicators yet of the scale of the country s construction slow-down.
Cement prices have tumbled by as much as eight per cent in recent weeks, as the country s three leading distributors offered rebates, special promotions and discounts to secure sales that have petered out. Athi River Mining, Bamburi and East African Portland Cement, are locked in a vicious battle that is so far bringing relief to consumers in the form of reduced prices.
Unlike other players, Portland has in ...