Taiwan’s Asia Cement board approves new China investments, bond issue

Taiwan’s Asia Cement board approves new China investments, bond issue
Published: 23 May 2005

Asia Cement Corp said its board has approved new China-bound investments and a plan to issue corporate bonds. A company investment arm will invest US$4.9m in its subsidiary in China’s Hubei province, the company said in a statement. Two other units will invest US$5.13m and US$0.57m respectively in a transport firm in Sichuan province. Separately, the board approved a plan to issue 1.0 bln twd in five-year unsecured bonds, the company added. An Economic Daily News report quoted unidentified company officials as saying that Asia Cement’s Hubei subsidiary will invest US$50m to build a plant with an annual capacity of 2Mt, with construction to kick off by the end of this year.