New Delhi: The Cement Manufacturers’ Association (CMA) has announced that the Cement industry is all set to raise its production capacity by 110 million tons by next three years (2010).

The association also said that the industry would invest around Rs 50,000 crore to fulfill this aim.

Mr. H.M. Bangur, CMA’s newly elected President stated, “In the next three years, Rs 50,000 crore is being invested for increasing cement capacity in the country by 110 million tonnes.”

Mr. Bangur also said that the Indian cement production has grown 8% during April-November this fiscal.

On the pricing front, Bangur said it is stable at the moment and would stay at the subsisting level for the next six months.

He said, “Cement prices have a stable outlook for the next six months. There might be slight movement either way.”

In order to increase profitability, the cement companies would have to cut costs and concentrate on higher volumes.