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Italian cement firm to build plant in China

(Agencies)
Updated: 2008-04-17 11:54

Italian cement company Cementir SpA will invest about 60 million euro ($95.66 million) to build a new cement plant in China, chairman Francesco Caltagirone Jr said.

Speaking at the AGM in Rome, he said the plant will have an annual capacity of 600,000 tonnes of white cement and will start operating by 2009.

Caltagirone also said this year Cementir aims to keep profitability at the same level of 2007 and that business plan target are fully achievable.

From 2009 the company will benefit from an increased production capacity thanks to the expansion of its Sinai and Edirne plants, he said.