CHINATREND (Holdings), 70 per cent owned by Paliburg International Holdings, has sealed a deal to take a 25 per cent stake in a cement plant in Weifang, Shandong province.
The company yesterday signed the contract in Hongkong with the Weifang Cement Plant.
Total investment for the 30-year joint venture is estimated at 110 million yuan (about HK$148.1 million at official rates).
Chinatrend will invest about 27.5 million yuan in cash, with the mainland plant contributing machinery and assets as its share of the investment.
Chinatrend has an option to raise its stake in the joint venture to 49 per cent within three years.
Paliburg senior property manager Chu Ip-pui said the cement plant was a ''profitable'' enterprise with an annual output of about 700,000 tonnes.
