Chinese build for Prosperity

Chinese build for Prosperity
24 September 2007

China’s construction industries will continue to grow strongly despite the completion of major projects connected with the 2008 Beijing Olympics, according to Patrick Li, chief financial officer of Alternative Investment Market-listed cement maker Prosperity Mineral Holdings.  
’The price of cement is rising strongly but demand is also going up,’ he said.  
’Continuing industrial development has been joined by preparations for the Asian Games in Guangzhou in 2010.’  
Prosperity’s operations produce about 16Mt of cement every year. Li said Chinese central government policy was helping the company.  
’The government wants to see fewer but larger manufacturers and they must use modern, more environmentally friendly production techniques,’ he said.  
’Our new plant has a waste heat-energy system that saves 57,000 kWh, or $8 million (£4 million), of energy a year and uses far less water.’  
Published under Cement News