Lucky Cement Corp., a listed cement producer in Taiwan, will establish a cement plant in Hebei province.
Lucky chairman Chen Liang-chuan noted Taiwan’s cement industry won’t turn around in the near future, so his company will focus on setting up a cement plant in Handan of Hebei province, China, which will be launched sometime in 2011.
Initially the plant will have an annual output of 2Mt before rising to 10Mt. While setting up the cement plant in China, Lucky will transform its operations in Taiwan for the high-tech industry, biotechnology industry, and distribution of limestone.
Decreasing public-work projects has sapped Taiwan`s cement industry, reducing the size by 10% annually over the past three years. Despite the slight increase in cement delivery this year, domestic cement producers won`t be profitable due to low prices.