TCC to invest in Guangdong cement plant
Hong Kong-listed Taiwan Cement Co International Holdings Ltd will invest one bln yuan to build a Guangdong cement plant which will more than double its construction material production capacity on the mainland, the South China Morning Post reported, citing the company. The Hong Kong-based newspaper said the main board-listed firm, which is backed by Taiwan’s largest conglomerate, the Koos Group, said it had signed an agreement with supplier Sinoma to design and construct two cement production lines.
At a total construction cost of 1.01 bln yuan, the lines are expected to be completed in the first half of 2006 and bring its combined annual capacity of 4Mt, the paper said.
Located in Yingde city, where TCC bought a cement plant a year ago, the lines will be funded by internal resources and bank loans. TCC said it wants to take advantage of its plant’s proximity to the fast-growing Pearl River Delta region.
TCC, which distributes cement and ready-mix concrete in Hong Kong, has cement and slag-grinding plants existing and under construction in Anhui and Fujian provinces and Guangxi autonomous region with a combined capacity of 2.9Mta.