BBMG to set up two joint ventures
BBMG Corp announced that it plans to spend a total of RMB240m (US$35m) to set up two cement joint ventures, one in Lan County, Shanxi Province and one in Jiaozuo, Henan Province.
The Hong Kong-listed firm will hold an 80% stake in each of the two JVs.
The plants are expected to have an output of around 1.85Mt and will gain limestone reserves of about 57Mt.
In mid-February BBMG announced it is to spend a total of RMB506.7m to acquire controlling stakes in three Beijing firms from Lafarge China Overseas Holding Co Ltd, according to China Knowledge’s earlier report.
Published under Cement News
