Zhejiang Glass will pay 720 million yuan (HK$674.64 million) to build an 800 million yuan soda ash plant despite having a cash balance of just 150 million yuan, as it seeks to lower costs of soda ash - a raw material used to make glass. The privately owned main board-listed firm, which controls about 70 per cent of southeastern Zhejiang's flat glass market, had a 90 per cent stake in the project in northwest China's Qinghai province, chairman Feng Guangcheng said. The owner of the remaining 10 per cent was not disclosed. The plant is expected to start production in 2005, with an annual production capacity of 600,000 tonnes. At least 50 per cent of the plant's output is expected to be bought and used by Zhejiang Glass, while the remainder will be sold to external parties.