CNBM to contribute RMB199M to four cement projects

CNBM to contribute RMB199M to four cement projects
Published: 11 July 2008

China National Building Material (CNBM) has signed a joint investment agreement with Gansu Qilianshan Cement Group Company Limited to invest jointly in four new cement projects. The total amount of capital to be contributed by CNBM to the four above-mentioned projects is RMB198.94m. It is contemplated under the agreement that a NSP cement production line with a daily capacity of 3,000t will be constructed for each of these projects.

The directors of CNBM consider that the joint investments with Gansu Qilianshan in the Qinghai Project, the Chengxian Project, the Baiyin Project and the Gangu Project will allow both parties to develop and expand their cement markets in the Gansu and Qinghai provinces of the PRC.