Taiwan Cement Corporation, one of Taiwan’s leading producers, will invest US$100m to expand production capacity in Guangxi province of China, while trying to choose among three selected sites for its new plant.
Taiwan Cement currently is the largest Taiwanese-invested firm in Guangxi province. Leslie Koo, chairman of Taiwan Cement, said Guangxi province has great potential as the government has kicked off a massive plan to build the Beihai Economic Zone.
Since 2006, Taiwan Cement has entered Guangxi province to set up a plant with four kilns in Gueigang. Taiwan Cement executive vice president Huang Chien-chiang said cement demand in Guangxi province will grow yearly as the Guangxi provincial government is planning to build highways and high-speed railways totaling 3,000 kilometers.
The proposed Beihai Economic Zone will generate a demand for cement in Guangxi province with a growth of 20% yearly.
Taiwan Cement recently signed an agreement of cooperation with the Putien government of Fujian province to establishm a cement-grinding plant with annual capacity reaching 2Mt.