Siam Cement invests here

Siam Cement invests here

BANGKOK (Reuter): The Siam Cement Plc said yesterday it will team up with Tianjin Building Materials General Corp to invest in a 900 million baht gypsum board plant in China.

Siam Cement also said in a filing to the Stock Exchange of Thailand that it is investing in a 50-50 joint venture with the Wings Group of Indonesia to produce the same building material in Indonesia.

The Thai company said it will hold a 71 percent stake in the Chinese project, which will have a capacity to produce 20 million square metres of gypsum boards a year. Tianjin Building will own the remaining 29 percent of the capital.

Siam Cement's 910 million baht Indonesian plant will also have the same output capacity.

Siam Cement said it will also take a 63 percent stake in a 725 million baht joint venture to produce small diesel engines in Sichuan, China.