Taiwan firm's Guangdong cement plan
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06/17/2003
A subsidiary company of Taiwan Cement Corp said yesterday it plans to set up a wholly-owned cement plant with an annual production capacity of 4 million tons in Guangdong Province. Without revealing the amount of investment, TCC International Holdings Managing Director Wu Yih-chin said 500-600 million yuan (US$60.2-US$72.3 million) would be the kind of capital required for a cement project with production capacity of 2 million tons on the mainland. The plan has yet to be finalized and would be subject to the approval of the authorities, Wu said. However, construction of the plant is expected to start early next year. TCC is engaged in import and distribution of cement in Hong Kong and the Philippines, and cement manufacturing on the mainland. TCC's cement production capacity on the mainland would grow to 10 million tons within five years, demanding additional investment of 2 billion yuan (US$241 million), Wu forecast. Its plants in Fuzhou in Fujian Province and Liuzhou in Guangxi Zhuang Autonomous Region will start production in the second and third quarters next year respectively. The company has invested around US$30 million in the cement grinding plant in Fuzhou. It entered into a contract earlier this year with an iron and steel company in Liuzhou for a US$15 million joint venture to produce building materials from industrial wastes. China Daily news (HK Edition 06/17/2003 page7)
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