Chinese to build plant in Chhattisgarh

Jinyuan Cement Co Ltd, a subsidiary of Hong Kong Jinyuan International Development Ltd, is proposing a new cement plant in Chhattisgarh, India.

“The company inked a memorandum of understanding (MoU) with the state government in Shenzhen (China) and announced to invest US$1bn to set up a cement plant in Chhattisgarh,” Subodh Kumar Singh, secretary commerce and industries, said.

According to officials, the Chinese firm’s officials would visit the country to complete the remaining formalities that include the project report and location.

Jinyuan would not be the first Chinese company proposing to set up a cement works in Chhattisgarh. The France-based Lafarge also has a unit in the state’s Balodabazar district.

Singh said seven MoUs were signed between different Chinese firms and the Chhattisgarh government at the business meet held in Shenzhen on Saturday. A high-level delegation led by Chief Minister, Raman Singh, is presently on a China visit under the Chhattisgarh Business Mission.