China Resources increases stake in CRC Chanjiang

China Resources increases stake in CRC Chanjiang
Published: 30 November 2011

China Resources Cement said it has successfully won the tender of 31.08% equity interest in China Resources Cement (Changjiang) Limited in a public tender at about CNY339.9m (US$53.36m), which will be satisfied in cash using internal resources.

CRC Changjiang is currently operating three clinker production lines with total capacity of about 3.26Mta and five cement grinding lines with total capacity of 4Mta in Hainan Province. Upon completion of the acquisition, interest of China Resources Cement in CRC Changjiang will be increased from 63.45% to 94.53%