Anhui Conch Cement Co Ltd, the biggest cement producer in Asia by output, plans to double its production capacity in the next three years to meet the great demand for the reconstruction works in the quake disaster areas, said Guo Jingbin, executive director of Anhui Conch.
Guo said that Anhui Conch would invest RMB7bn (US$1bn) for capacity expansion this year, and invest RMB10bn each year in the next few years. He also predicted the sales of the company in 2008 would be over 100Mt, exceeding the 86.5Mt recorded last year.
Anhui Conch planned to increase its capacity by 50Mt this year. In line with its expansion, it will invest RMB4 to 5bn in Sichuan to build three cement plants, starting form July this year. Thus, the company’s production capacity in Sichuan will hit 12Mt by 2010, according to sources.
This company is now seeking new investment opportunities near Chengdu, the provincial capital of Sichuan, said Guo.