China cement industry profits to grow gradually in 09

Byswb

Updated Wed, 04 Mar 2009 00:00:00 GMT

Executive chairman of Anhui Conch Cement Company Limited Guo Jingbing forecasts that profits in the Chinese cement industry will grow gradually in 2009 and the output will rise 5% to 6%.

The executive chairman says that the Chinese government's CNY 4 trillion stimulus plan can give a strong support to the cement industry and if fixed-assets investment growth in the cement industry jumps around 20% this year, the cement output growth will reach about 5% to 6%, but the total output will not exceed 100 million tons.

Consumption of cement in China in the first of half this year is likely to grow 1%, while the growth in the second half of the year will be 10% to 11%.

A China Resources Cement Holdings Ltd. executive says that most insiders take a optimistic look on the Chinese cement industry, driven by the domestic infrastructure investment, adding that the industry is to welcome a consumption peak in the second half of this year.