It is reported that Xinjiang Tianshan Cement plans to issue up to 120 million shares at CNY 20.64 per share in order to raise a maximum of CNY 2.8 billion for expansion in Xinjaing.
Proceeds raised will be invested in five cement production facilities, including the expansion of two 4,000 tonnes per day cement production lines in Kashgar and Yecheng in Xinjiang province. In addition, the cement producer will invest in a cement grinding plant with capacity of one million tons per year.
According to the report, the projects are located in regions with the strongest development potential in Xinjiang, such as Wuchang, Kashgar, Turpan and Hotan. The investments are forecast to handle 190,000 tons of mud from urban regions and absorb 720,000 tons of acetylene sludge year.
The company clinker production capacity in Kashgar will increase by 2.48 million tons per year while that of cement will be raised by 3.73 million tonnes. Tianshan Cement clinker production capacity in Hotan will rise by 992,000 tons per year while its cement production capacity will increase by 1.36 million tons.
Tianshan Cement said the investments were to take advantage of Xinjaing's rapid development. Including the aforementioned investments, the company will have a total of 16 cement production lines that it plans to build or are currently under construction.
The company is projected to have total production capacity of 46 million tons by the end of 2013 of which 92% will consist of products made using the new dry-process cement production method.
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