Trinidad Cement Limited is unfazed by the return of its only competitor on the local market, and says the Company continues to perform very well with exports expected to surpass 35 million US in 2025. As for any change in cement prices, TCL says, we'll have to wait and see. Rynessa Cutting reports.
00:00With its sole competitor now back in the market, Trinidad Cement Limited is reaffirming its value as the only local cement manufacturer.
00:10We were the only supplier in the country. That's not exactly a monopoly because the country was open for any importer to come.
00:17It's just that nobody was coming to the country. So we were the only supplier at that time.
00:23Competition is just the norm. In any other country where we operate, there is competition.
00:27So it's not something that is new or, you know, sure to prices.
00:32TCL had increased its prices five times following its competitor's exit from the TNT market in 2021, prompting public outcry.
00:43We could expect more increases and it decreases and it means ten ounce of the prices. What can we expect?
00:48Yeah, well, I think to answer that, I would say that the price of the product, any product actually, is in line or relative to the cost.
01:01So whenever the cost increases, products have to increase their prices because otherwise you will be just, you know, putting in danger the sustainability of the company.
01:10And that company, very mine, that employs 400 people. So it's 400 families plus all the community that, you know, around the company benefit from the operation of TCL in the country.
01:18So in reality, again, what's going to happen, increases, decreases, we'll have to see.
01:26TCL notes, however, that the company continues to perform quite well, making significant forex contributions to the local economy.
01:35But it's performing very well. Obviously, there are certain areas of opportunity for sure in different markets.
01:44Remember that TCL is not only Trinidad. TCL is Jamaica. TCL is Barberos. TCL is Guyana. TCL is Trinidad as well.
01:51The economy of the country in a certain portion depends also on the operation that we have here.
01:57Remember that we export, right? So by being an exporter, we do generate the desperately needed U.S. currency.
02:06And I don't know if you probably saw it in the news. Some of you actually published that, that we reached a record in export in the month of July.
02:15That was 37,000 tons exported to different markets in the Carricom.
02:20And that's, again, a big plus that we as a local company can provide to the country.
02:26What was the approximate value of that?
02:30Four million U.S. dollars, only in July. But we're expecting to generate around 35 U.S. million dollars for the 2025 year.
02:39TCL earned 85 million U.S. dollars in forex between 2022 and 2024.
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