Chinese companies gain new business in emerging markets

Two Chinese firms have signed overseas contracts this week, with Sinoma signing a US$536 million contract with Nigeria’s Dangote Cement and CITIC Heavy Industries entering a US$197 million contract with a division of Siam Cement Group in Myanmar.

Sinoma and Dangote are building two 6000 tpd production lines, while CITIC Heavy Industries is to build a 5000 tpd cement production facility with Mawlamyine Cement Ltd.

“The signing of the project and a smooth implementation will have a positive impact on the company’s future operations,” a newspaper quotes CITIC Heavy as saying. “It will also further develop the company’s presence in the southeast Asian cement market, giving a boost to our financial results.”

CITIC Heavy and Siam Cement previously signed a contract in May to build a new cement production line in Cambodia.

Edited from various sources by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/13122013/chinese_companies_sign_contracts_in_emerging_markets_514/