Displaying items by tag: SOCAM Development

China: SOCAM Development has agreed to sell a 35% stake in Nanjing Jiangnan Cement for US$22.1m to Country Garden. Nanjing Jiangnan Cement produces and trades cement in Nanjing. SOCAM Development plans to sell its remaining 25% stake in Nanjing Jiangnan Cement to Country Garden at a later date, according to ET Net News.

China: SOCAM Development Ltd has agreed to sell its entire 45% stake in Lafarge Shui On Cement Ltd, its cement joint venture project, to its partner Lafarge for US$329m. Lafarge Shui On Cement has 32Mt/yr of cement production capacity in southwest China, in Yunnan, Sichuan, Guizhou and Chongqing Provinces. The sale would make Lafarge Shui On Cement a wholly-owned subsidiary of Lafarge.

SOCAM Development, which has been seeking to sell its cement operations since 2013, said that the disposal would allow it to focus on its construction business and to capture opportunities arising from a massive public housing programme recently announced by the Hong Kong government.