China Shuanji Cement, Ltd. (CSGJ.OB) Opens New Plant

By IBTimes Staff Reporter | December 03 2010 3:46 AM

Yesterady, China Shuanji Cement, Ltd., a manufacturer of cement in the Shandong and Hainan provinces of China, announced that it has opened its newest one million metric ton cement plant in Zhaoyuan City. The ribbon cutting ceremony was attended by the Zhaoyuan City mayor, as well as employees and representatives of China Shuangji, in addition to customers, suppliers, and other industry members.

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China Shuangji, a producer of Portland cement, currently manufactures 1,500,000 tons annually from its two facilities in Hainan, and one in Shandong. Once the newest Zhaoyuan City plant, located with direct access to a new highway, reaches full operating capacity, it is expected that it will increase the overall cement output of the company to 2,500,000 metric tons per year. With access to the new highway, there is a direct route to many of China Shuanji’s customers as well as nearby ports. These developments will lead to an expected 66% increase in profits.

The new factory, equipped with modern production lines and new testing equipment, will be providing cement that will be primarily used by contractors for the construction of buildings, roads, and assorted infrastructure projects.

“On behalf of China Shuangji Cement’s shareholders, employees, customers and suppliers, I would like to thank Mayor Wei Zhang and Party Secretary Shaoning Xu and all the other local government representatives who helped make completion of this project a reality. I would also like to especially thank Mr. Jiping Wen, the individual investor who loaned us $3.7 million to complete our purchases and installations of state-of-the-art cement manufacturing equipment,” said Mr. Wenji Song, Chairman and President of China Shuangji Cement, Ltd. “The Chinese economy is growing rapidly and spending on new construction and infrastructure projects are increasing the need for cement. Opening our new modern cement facility better positions us to benefit from this trend and is a key step in our strategy to become a major cement player in China and the leading supplier of high-grade bulk cement in both Shandong and Hainan provinces.”

“Zhaoyuan City is pleased to have been able to assist China Shuangji with this project,” said Wei Zhang, Mayor of Zhaoyuan City. ”China Shuangji is a valued and trusted partner in our community and the opening of its new cement facility is truly a win-win for all parties involved.”