Gansu Qilianshan Cement Group Co, the largest cement maker in Gansu province and a specialty cement manufacturing base in northwest China, agreed to input RMB90m into Gangu Qilianshan Cement Co., Ltd., its wholly unit, to construct a 3000tpd new dry-process line, the company announced on March 9th.
The project needs a total investment of RMB454.68m, with construction expected to take 12 months.
Also, Gansu Qilianshan agreed to buy a 100% stake in Gansu Tianshui Yuanyang Cement Sales Co, Ltd for RMB1.91m to strengthen its sales arm. The acquisition will be funded by the company’s internal capital.
Source: China Chemical Reporter No.9 (613). Vol. 20