SINGAPORE (Kyodo) Japanese construction companies in Singapore have been hit hard by skyrocketing concrete and granite prices due to supply disruptions caused by Indonesia's ban on sand exports.
More than 20 Japanese construction companies are operating in Singapore and are involved in more than 20 percent of current construction projects in the city-state.
But since Indonesia banned exports of sand in January over environmental concerns, the price of sand in Singapore has jumped from 25 Singapore dollars (about $16.4) to S$60, while the price of concrete leaped from S$70 per cu. meter to a high of about S$200 at the end of last month.