CHINA Anhui Conch Cement, China's largest cement maker, plans to spend RMB4nb (480m US dollars) to expand production over the next three to five years. The plan would help the company consolidate its lead and increase market share as the cement industry undergoes consolidation to reduce excess supply, according to director Guo Jingbin. "Within three years, we will expand our annual production capacity of both cement and clinker to 30Mt, through new construction, renovation, mergers and acquisitions," said Guo. Capacity will further double to 60Mt in seven years, earning Anhui Conch a spot among the 10 largest cement makers worldwide, Mr Guo said. According to Conch, its production capacity of 16.6Mt in 2001 makes Anhui Conch the world's 12th-largest cement maker. It will increase its grinding stations in coastal cities and the lower reaches of the Yangtze River from 14 to 20. The number of clinker plants would grow form nine to 12. Expansion will be funded by retained profits and the 100m US dollars proceeds from its recent 200 million share A-share initial public offering.
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