Trade Resources Industry Views Cement supply reduction in mecca has sparked sold on the black market supply growth

Cement supply reduction in mecca has sparked sold on the black market supply growth

Dwindling cement supplies in Makkah has triggered a growth in the sale of supplies on the black market, where prices have climbed to more than $5 (SR: 20) per bag.

Supplies have been dwindling for more than a week, causing concern that around 300 construction projects across the city could be halted, according to Arab News.

The shortage has sparked a wave of buying supplies from black market suppliers as contractors strive to make sure projects hit deadlines.

The chairman of Makkah Chamber of Commerce s Contractors Committee, Abdullah Al-Saeedi said that he planned to raise the issue with the Council of Saudi Chambers.

“The crisis began to unfold 10 days ago when distributors failed to meet the rising demand for cement,” he said.

 

One cement buyer has blamed truck drivers for the shortage, stating that they are pushing up the price artificially. Others have blamed the cement factories themselves for not releasing sufficient quantities.

 

Source: http://www.uaecement.com/newsDetail.aspx?id=759
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Cement Shortage Fuels Black Market Boom in Makkah
Topics: Construction