A new financial joint venture company will be jointly established by the Chinese cement and clinker producer, China Tianrui Group Cement, its parent company and its sister company.
China Tianrui Group Cement, which will be contributing CNY 105 million (€14.44 million/US$16.42 million) to the new joint venture company, will own a 35% shareholding in the new company.
The final joint venture memorandum has been signed by the three companies, and it will own a registered capital of CNY 300 million.
