Jiangxi joint venture, China

Jiangxi joint venture, China
Published: 09 January 2006

Jiangxi Wannianqing Cement Co, Ltd (Jiangxi Cement) announced on January 5 that the company has clinched an agreement with a building material company in Ganzhou city in Jiangxi Province on setting up a joint venture on the basis of the company’s plant under-construction in the Ruijin City of the province.
Located in Wannian County in central China’s Jiangxi Province, Jiangxi Cement is an industry leader in the province and its shares are publicly traded in the Shenzhen Stock Exchange. 
According to the announcement, the new joint venture will have registered capital of CNY 300m, in which CNY200m, taking up a 66.67% stake, will be invested by Jiangxi Cement, and the reminder will be from its domestic partner. 
Jiangxi Cement expressed that the cooperation will be helpful to form integrated strength for the province’s cement resources and therefore to stabilise the cement market in the southern part of Jiangxi Province.