Tongling Shangfeng Cement, a subsidiary of Gansu Shangfeng Cement, has signed a letter of intent to acquire an equity stake in Zeth Cement of Kyrgyzstan.

The Chinese-based company aims to join forces with investor Zhu Rongjun to develop a cement and clinker line with a capacity of 3000tpd.

Tongling Shangfeng will have a 58 per cent stake in Zeth while Zhu will hold the remaining 42 per cent.