Steel Companies Reduce Prices for Govt projects
Written by : SMTV24x7 | Sat, Feb 17, 2018, 02:56 PM
Telangana Feb 17: In a Major Boost for Construction of government projects in Telangana State the steel companies on Friday agreed to reduce the price of steel for the project by Rs 9,440 per metric tonne. Sources said that this reduces the burden on the State to the extent of Rs 264.60 crore.
The Decision was announced by the steel companies management in the presence of IT and Industries Minister KT Rama Rao and Minister for Housing A Indrakaran Reddy.
Steel companies have said that "steel at Rs 43,660 (inclusive of GST) per tonne against the prevailing market price of Rs 53,100 (inclusive of GST)."
The decision was taken after the ministers have requested the steel companies to reduce the price of steel because the government is constructing houses for poor people.