Qilianshan Cement to purchase cement assets

Qilianshan Cement to purchase cement assets
Published: 07 January 2011

Gansu Qilianshan Cement plans to purchase a 26 per cent stake in Gansu Zhangye Julong Building Materials for CNY60m (US$9m), according to a company filing.

After the purchase is completed, Qilianshan Cement, Gansu Heihe Hydropower, Zhangye Environment Protection Building Materials, Zhangye Sanqiang Chemical, Zhangye Longteng Cement, and Linze Shengyuan Industry will hold respective stakes of 26 per cent, 26 per cent, 12 per cent, 12 per cent, 12 per cent, and 12 per cent in Julong Materials.

Julong Materials has a new dry-process cement line which has a capacity of 2500tpd and 1Mta.