Gansu Shangfeng Cement in Kyrgyzstan joint venture

Gansu Shangfeng Cement in Kyrgyzstan joint venture

Gansu Shangfeng Cement Co says its wholly-owned Zhejiang Shangfeng Building Materials unit is to set up a joint venture with ZETH International in Kyrgyzstan with registered capital of CNY200m (US$32.66m).

Gansu Shangfeng Cement Co says its wholly-owned Zhejiang Shangfeng Building Materials unit is to set up a joint venture with ZETH International in Kyrgyzstan.

The joint venture will build a 2800tpd clinker production line in Chuy, Kyrgyzstan involving a total investment cost of US$114.4m.

Shangfeng and ZETH will hold 58 and 42 per cent of the venture, respectively.  Shangfeng ZETH will be consolidated into Shangfeng Cement after the deal is closed.