Cement supply deal for China’s Qingdao Jiaodong International Airport project won by Sunnsy

China-based Shandong Shanshui Cement Group Limited (Shandong Cement) is offering nine-month bills worth US$243.09 million (CNY 1.5 billion). The company is to spend the proceeds on bank debt settlement and increased working capital.

Operating income and profit attributable to shareholders of China Shanshui Cement Group in 2014 fell by 5.68% and 65.81% year-on-year to CNY 15.60 billion (€2.30 billion/US$2.51 billion) and around CNY 348 million respectively.

The China-based company's revenue from the sale of concrete and clinker grew by 21.9% and 4.5% to CNY 1.04 billion and CNY 1.88 billion respectively, while revenue from cement sale dropped by 6.3% to CNY 12.51billion.

China Gezhouba Group posted a year-on-year growth of 23.65% in revenue to US$5.8 billion (CNY 35.68 billion) January to June 2014. China Gezhouba, which is involved in property development, cement production and construction projects such as roads, railways, sewage and water supply, signed $11.42 billion (CNY 70.44 billion) worth of new contracts in the six-month period. The company's net profit increased 48.65% to $204.38 million (CNY 1.26 billion).

Meanwhile, fellow Chinese firm Allied Cement Holdings