www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Concrete steps for tackling overcapacity

By Xing Zhigang and Li Jiabao (China Daily) Updated: 2014-06-10 07:25

Concrete steps for tackling overcapacity

Two workers carry a bag of cement at a construction site in Shanghai. [File photo/IC]

Cement company shifts emphasis overseas as it seeks to escape cost pressures in a tough domestic market, report

Making the best of a tough situation is a virtue that one Chinese company is embracing as it grapples with a crowded domestic market.

"Even as some industries face overcapacity in China, capacity is urgently needed elsewhere," said Tao Feng, chief financial officer of the South African subsidiary of cement producer Jidong Development Group Co Ltd.

"Financial support is crucial in successfully shifting businesses that are operating on thin profit margins," said Tao, who was interviewed in Limpopo, the northernmost province of South Africa.

The subsidiary, Mamba Cement Co (Pty) Ltd, was jointly established by Women Investment Portfolio Holdings Ltd and limestone miner Continental Cement (Pty) Ltd - both based in South Africa - and the China-Africa Development Fund and the Jidong group.

It was incorporated in 2010 with total investment of 1.75 billion rand ($163 million).

Jidong, a developer of cement plants and the largest cement producer in northern China, and the CAD Fund have a combined 51 percent stake in the project.

WIP holds 23.9 percent, and Continental Cement has the remaining 25.1 percent.

The deal represents a significant foreign direct investment in the local cement industry.

After four years of negotiations on financing models, construction of a cement plant in Limpopo started in February and is expected to be completed in the first half of 2016. The plant will turn out about 1 million metric tons of cement a year, Tao said.

"The project is Jidong's first business overseas. The group has huge cement production capacity at home, but cement prices have been low in recent years. Rising environmental concerns have restrained development of the industry, which uses a lot of energy. That is where the idea of going abroad came from."

One of the group's listed member companies is Tangshan Jidong Cement Co Ltd, which accounts for 60 percent of the GDP of the city of Tangshan, Hebei. The city accounts for the lion's share of the GDP of Hebei province.

Hebei - saddled by overcapacity and often blanketed, as are surrounding regions, by heavy smog - is tackling overcapacity in industries such as cement, iron and steel by closing or moving facilities.

The provincial government has said it aims to relocate 60 million tons of cement production this year.

Concrete steps for tackling overcapacity

Concrete steps for tackling overcapacity

 Long way to tackling overcapacity  Overcapacity reduction targets raised for 2014

Previous Page 1 2 3 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 99国产精品热久久久久久夜夜嗨 | 精品国产一级毛片 | 孕妇孕交视频 | 免费一极毛片 | 免费人成黄页网站在线观看 | 欧美一区二区三区在观看 | 在线观看 a国v | 国产精品三级国语在线看 | 香蕉视频亚洲一级 | 国产香蕉98碰碰久久人人 | 免费国产不卡午夜福在线 | 正在播放国产一区 | 色偷偷亚洲精品一区 | 国产激爽大片在线播放 | 国产合集91合集久久日 | 欧美视频xxxxx | 欧美精品在线视频观看 | 欧美精品久久久久久久免费观看 | 九九九九精品视频在线播放 | 日本午夜vr影院新入口 | 午夜两性试爱视频免费 | 91九色国产porny | 亚洲精品一区二区 | 91亚洲精品久久91综合 | 高清一级毛片 | 国产成人久久精品二区三区 | 欧美日韩人成在线观看 | 亚洲视频国产精品 | 手机亚洲第1页 | 国产成人精品亚洲日本语音 | 亚洲成人免费网站 | 欧美一级鲁丝片 | 色拍拍噜噜噜aⅴ在线观看 色青青草原桃花久久综合 色婷婷91 | 欧美一级高清免费播放 | 玖玖在线免费视频 | 91久久99久91天天拍拍 | 精品国产免费第一区二区三区日韩 | 草草免费视频 | 欧美激情伦妇在线观看 | 成人免费高清视频网址 | 一区三区三区不卡 |