Cement firm builds to meet demand

Taiwan-based Chia Hsin Cement Greater China Holdings says it will complete a planned cement grinding mill and a new production line on schedule to meet surging demand for high-grade cement on the mainland. Chia Hsin Cement began expanding its cement grinding mill last August, and the expansion is expected to be completed by August this year, increasing capacity to 3.7 million tonnes a year.

Chief executive officer Jason Chang said he is upbeat about the company’s business because Beijing’s recent austerity measures to curb the country’s overheating economy would bolster Chia Hsin Cement operations by weeding out what he terms unqualified cement makers in the market. For the year ended December 2003, the firm posted a net profit of US$19 million (HK$148.2 million), up from US$10 million in 2002.