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Taiwan Cement to invest $1b in mainland

By Yu Hongyan (chinadaily.com.cn)
Updated: 2008-12-09 16:25

Taiwan Cement, the largest cement producer in Taiwan province, plans to invest $1 billion into the Chinese mainland over the next four years to double its production capacity, a senior company official said.

The cement producer aims to have a production capacity of 50 million tons a year by 2012, the 21st Century Business Herald reported, citing its chairman Koo, Cheng-yun.

Taiwan Cement currently produces 24 million tons of cement a year, ranking among the top three cement makers in South China's cement market in terms of output.

The company, which inaugurated a cement plant in Guigang, Guangxi Zhuang autonomous region on Friday, announced in September to invest 3.6 billion yuan ($527 million) to build a 9-million-ton plant in Guangdong.

Koo said his company is optimistic about the mainland's economic development in the long run, and in response to the mainland's 4-trillion-yuan stimulus package, it has set up a specialized team to bid projects that may come with governmental expenditure plans.