China Resources Cement Chairman ZhouJunqing said the company aims at boosting its market share in the Southern China to 33% within three years.
As China’s Ministry of Industry and Information Technology plans to eliminate unqualified cement enterprises and over 3,000 Chinese cement enterprises do not have dry-process kiln technology, Zhou believed China Resources Cement’s business opportunities will surge.
The company targets an output capacity of 50Mt by the end of 2010 and expects to boost it to 70Mt in 2012. Capital expenditure for the second half of 2010 will be HK$5bn and about HK$3bn in the first half of 2011.
China Resources Cement forecasted cement output in Shanxi Province will reach 5Mt by the end of this year. As the largest cement enterprise in the Province only has an annual output of about 4Mt.