Shanxi Xishan Coal and Electricity Power Co of China released an announcement that it planned to establish a joint venture with Huatong Group.
The venture is named Shanxi Xishan Huatong Cement Co, Ltd Shanxi Xishan Coal and Electricity Power will account for 90 per cent of registered capital by an investment of CNY45m.
The venture will be engaged in production and transportation of cement, material stone and woven bags. It will build a 4500tpd clinker cement production line and support low-temperature waste heat power generating system.
The project is estimated to achieve CNY443m sales revenue and CNY115m profit annually after reaching full operation.