Government to consolidate cement industry
By Wan Zhihong (China Daily)Updated: 2007-01-11 09:29
Sixty key cement companies will become the industry leaders under a fresh
consolidation, according to the National Development and Reform Commission (NDRC).
The
60 will enjoy government support in terms of approval for new projects, mergers and acquisitions, land use and credit, the
NDRC, the nation's top economic planning body, said on its website.
 A cement plant in East China's Anhui Province.[newsphoto] |
The list includes 12 national cement manufacturers and another 48 local firms, including the country's biggest cement company, China Anhui Conch Group Co Ltd.
"The consolidation aims to develop China's cement companies into world cement giants," said Hong Liang, an analyst with China Galaxy Securities.
Although China is the world's largest cement producer, there are currently too many small manufacturers, said Hong, adding that most of them use outdated equipment.
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