Taiwan Cement Corp (TW 1101) plans to invest 10bn yuan in mainland China over the next five years for production expansion and acquisitions, company president Leslie Koo said.
Taiwan Cement made the decision with a view to meeting a fast growing cement market in the mainland. Its annual cement production capacity is expected to reach 20Mt within five years and the company aims to become one of the three largest cement producers in mainland China at that time.
Taiwan Cement has invested a total of 2.5bn yuan to acquire and renovate a cement production facility in Yingde in the southern Guangdong province, its first plant in the mainland in June last year.
Taiwan Cement also plans to invest in projects in the eastern Chinese province of Fujian and the southern provinces of Guangdong and Guangxi.
Taiwan Cement and Chia Hsin Cement Corp have formed a strategic alliance with a view to developing the mainland China market.