China issues 'key cement makers' list ahead of industry consolidation |
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Published
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Wed, 10 Jan 2007 01:58
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SHANGHAI (XFN-ASIA) - China's top economic planning agency said it has identified 60 'key cement producers,' including the parent of Anhui Conch Cement Co Ltd (SHA 600585; HK 0914), as a preliminary to industry consolidation.The 60 will enjoy government support in terms of approvals for new projects, mergers and acquisitions, land use and credit, the National Development and Reform Commission said in a statement on its website.The list includes China Anhui Conch Group Co Ltd, parent of Anhui Conch Cement; Huaxin Cement Co Ltd (SHA 600801; SHB 900933); Tangshan Jidong Cement Co Ltd (SZA 000401); and Fujian Cement Inc (SHA 600802).The agency said earlier that it expects China's annual cement output to hit 1.25 bln tons by 2010, up from 1.06 bln in 2005. It has also announced plans to phase out small players with outdated technology.(1 usd = 7.8 yuan)qionghui.feng@xinhuafinance.com
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