Shanghai Allied Cement joint venture, China

Shanghai Allied Cement joint venture, China
Published: 16 February 2012

Allied Cement said Shanghai Allied Cement (SAC) agreed to set up a 50-50 joint venture with Shanghai Building Material (Group) General Company aiming at commencing construction of the Bailonggang Project in Shanghai by the end of 2012.

The total investment of the joint venture CNY1.98bn and registered capital joint venture will be CNY800m.

Shanghai Building Material and Shanghai SAC agreed to establish the JV to operate and manage the Bailonggang Project, involving the development of new cement production facilities at Bailonggang, Pudong, Shanghai, within three months after the relevant government approvals for the project being obtained.

The joint venture is established to engage in the proposed business of the manufacture and sale of cement, clinker, cement products and new cementitious materials. The proposed name of the JV is Shanghai Building Material Allied Enterprise.