Cement news from China

Figures released by the National Development and Reform Commission indicate that China produced 167.8 million t of cement in August 2010 compared with the same month of last year, representing an increase of 12.8%. The factory price of cement from key enterprises stood at RMB 309.5/t on average in August, up RMB 15.4/t from the previous month. In the first eight months of this year, cement output rose 16.7% y-o-y to 1.18 billion t.

Asia Cement (China) Holdings has announced that it has signed a US$ 144 million, five year low interest syndicated loan agreement. It will provide funds for the construction of the no.5 production line at the Jiangxi Yadong plant, as well as working capital, which will further enhance the group’s production capacity and competiveness in the region. The Lank Bank of Taiwan is the lead arranger of the loan, with eight participating banks.

The production line is expected to be operational in mid-2012 with a planned annual clinker production capacity of 1.98 million t (2.35 million t).

Read the article online at: https://www.worldcement.com/asia-pacific-rim/29092010/cement_news_from_china_2/