China Shuangji Cement, Ltd has announced that it has secured a US$3.7 million loan from an individual. The loan will be used to complete construction of a new 1 million tpa plant in Zhaoyuan City. The company has already received US$2 million of the loan, and is expecting to receive the balance soon.
"We are very excited to receive this funding, which will allow us to complete our new cement factory outside of Zhaoyuan City, and increase our production capacity by 1 000 000 metric tons, or roughly 66%, to an estimated 2 500 000 metric tons per year," said Mr. Wenji Song, Chairman and President of China Shuangji Cement, Ltd. "We have already purchased, or placed deposits on key production equipment that we need to finish our partially completed new Zhaoyuan cement plant. Finish work and the installation of the new equipment is all that remains at this stage. We are excited to move forward and look forward to bringing this facility online shortly and expanding production."
Added Mr. Song, "China's economy continues to expand, and we forecast strong demand for the high-grade bulk cement we produce, which is being used for general construction and for large infrastructure projects, such as the highway the government is currently building from Longkou to Qingdao. We currently sell all the cement that we produce and expect to sell all of our expanded production as well. We see increasing demand for our product as China's economic expansion continues and the government's $586 billion stimulus program ensures investment in cement intensive projects for years to come.” The new plant is located with direct access to a new highway that will provide excellent links to customers and ports.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/28062010/china_shuangji_receives_private_loan_to_help_complete_plant/