China’s Jidong Cement to invest CNY1.53bn in capacity expansion
Tangshan Jidong Cement Co Ltd, the Chinese partner of HeidelbergCement AG, said its board of directors has approved a plan to invest CNY1.53bn to expand production capacity by 25 per cent.
The company said it will build up three new cement plants, increasing its production capacity by 4.77Mt, it said in a statement filed with the Shenzhen Stock Exchange.
Jidong Cement said in March that its parent Hebei Provincial Jidong Cement Group Co was in talks to transfer a stake in the listed unit to HeidelbergCement.
HeidelbergCement and Jidong Cement set up a 50-50 joint venture to produce cement in 2005. Published under Cement News
