China: Xinjiang Tianshan Cement to inject RMB1.85 bln into 6 projects

Byyyp

Updated Tue, 22 Jun 2010 00:00:00 GMT

Xinjiang Tianshan Cement Co Ltd<000877> on Jun. 19 announced that it will invest a total of RMB 1.85 billion in five cement and one power projects principally for the output expansion of cement, clinker and concrete, according to a statement filed with the Shenzhen Stock Exchange.

Five of the six projects, which are expected to bring a total of RMB 1.22 billion in sales revenue and RMB 146 million in after-tax profit, will add annual output of around 4.76 million tons of cement and 800,000 cubic meters of clinker.

The power project will annually generate 29.72 million kilowatt hours of electricity and reduce 2.76 tons of carbon dioxide emission.

In the first quarter of this year, the Shenzhen-listed firm suffered a net loss of RMB 49.72 million, which was mainly dragged down by declined cement prices in Xinjiang Uygur Autonomous Region and Jiangsu Province.