China Runji Cement Inc. Files
Application for Third Production Line
Tuesday January 20, 2009, 4:35 pm EST
ANHUI, China, Jan. 20, 2009 (GLOBE NEWSWIRE)
-- China Runji Cement Inc. (OTC BB:CRJI.OB
- News) (``CRJI'' or ``the Company''),
a leading producer and distributor of
cement in Anhui Province of China today
announced that the Company has passed
the water and soil preservation assessment
at the construction site of its third
cement clinker production line, hence
allowing the Company to submit a formal
application for commencing the construction
work on its third production line with
an anticipated output of 4,500 tons of
cement per day.
After the third cement production line
is online, CRJI will be able to supply
its regional market with over 10,000 tons
of cement per day, or around 4 million
tons per year. This will make CRJI one
of the largest cement manufacturers in
China.
Subject to the approval of the government,
CRJI plans to build the third cement clinker
production line within two years in order
to capture potential opportunities in
the growing Chinese cement market driven
by a 4 trillion RMB stimulus plan announced
by the Chinese central government in October
of 2008.
As part of the 4 trillion RMB stimulus
package, the Anhui provincial government
(where CRJI is located) will be investing
67 billion RMB (or USD 9.8 billion) in
infrastructural investment to put towards
the provincial city airport, 165 km of
highways in the province and railways
up to 400 km in length over the next 5
years. It is anticipated that these projects,
among others in the Anhui province, will
boost demand for CRJI's concrete products
despite a lagging economy.
``The 4 trillion RMB central government
stimulus plan and the RMB 67 billion contributed
by the Anhui province should kick-start
long term growth in cement demand,'' CRJI's
President and CEO, Mr. Zhao Shouren said.
``Unlike the American economy which is
boosted by real estate, the growth of
the Chinese economy is driven through
governmental investment in the country's
infrastructure. As the only producer of
high grade PII52.5 cement within a 100
mile radius from our facility, we are
well positioned to deliver cement for
all of the anticipated infrastructural
construction work in Anhui Province. That's
why we see a need to add one more production
line in the future.''
About China Runji Cement Inc.
Founded in 2003, China Runji Cement,
Inc. is one of the leading players in
cement production and distribution. The
Company's certified manufacturing facilities
contain cutting-edge technology and advanced
equipment and are capable of producing
as much as 2 million tons of cement annually.
Furthermore, the Company's solid distribution
network and customer-orientated services
have earned CRJI's products a superior
reputation among its customers. Headquartered
in Anhui Province, the Company's markets
include major local cities such as Hefei,
Nanjing, and Liu'an.
For more information on the Company and
its products, please visit http://www.chinarunji.com.
Contact:
Evian Investor Relations
1-877-331-8777
svd@evianir.com
