Philippine Company Funds Cement Base in East ChinaThe Philippine Continental Cement Corporation will invest in the construction of a cement production base in Penglai, east China's Shandong Province, local sources said Thursday.An agreement has been signed on the 90-million-U.S. dollar project, but the stake of the Philippine company was not mentioned. Advanced technologies and equipment of the 1990s will be introduced for the project which covers a total area of 60 hectares. In the first-phase construction, to be completed in three years, a cement production line with an annual capacity of 1.5 million tons will be built. And the production capacity will be expanded to 40 million tons within ten years, sources said. |
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