Cartel managing cement and steel industry: Nitin Gadkari

Cartel managing cement and steel industry: Nitin Gadkari

Union Road Transport and Highways Minister Nitin Gadkari, who on more than one occasion called out various officials over delay in infrastructure projects, on January 10 said there is a cartel working in the cement and steel industry, and pitched for reforms in order for faster completion of the projects.

"There is a cartel in cement and steel industry.

Every steel company has its own iron ore mines and there has been no increase in labour and power costs but they are increasing rates.

It is difficult for me to understand (the reason behind it)," Gadkari said while interacting with the Builders' Association of India, Western Region via video conferencing on Saturday.

He also accused the cement factories of exploiting the situation which is "not in national interest".

"We're planning to implement infrastructure projects worth Rs 111 lakh crores in next 5 years.

If rates of steel and cement continue like this, it'll be very difficult for us," Gadkari added.