Huaxin Cement Co Ltd plans to cooperate with Huangshi Yiruida Investment Co Ltd in a cement joint venture with total capital of 500 mln yuan, the listed company said in a statement. Huaxin Cement (which has Holcim involvement) will take an 80 per cent stake in the venture by contributing a cement production line worth 400m yuan, while the remainder will be held by Huangshi Yiruida Investment Co Ltd, which will inject land-use rights worth 177.97 mln yuan, according to the statement. The joint venture will be located at Huangshi, a city in central China’s Hubei province.
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