Red Lion Group and Nepal Hope Cement Group signed an agreement in Kathmandu on the 17th to jointly invest 300 million US dollars to build a new cement plant with an annual output of 3 million tons in Nepal. This is the largest cement production investment project in Nepal at present.
Xu Youyuan, deputy general manager of China Red Lion Holding Group, said at the signing ceremony that Red Lion Group began to investigate the Nepalese market in 2012 and finally decided to build a cement plant in a joint venture with Nepal's Shiva Co., Ltd. In this project, the Chinese side contributes 70% and the Nepalese side contributes 30%.
Wu Chuntai, Chinese Ambassador to Nepal, said that China and Nepal are now in a stage of rapid development. China's "the Belt and Road" strategy has attracted the participation of many countries, including Nepal. China's development will bring more benefits to Nepal. It is hoped that this joint investment will further improve Nepal's infrastructure construction and promote Nepal's economic development.
Nepalese Finance Minister Mahat said that Chinese private enterprises have invested in the construction of Nepal's largest cement production project, which shows that Chinese enterprises have great confidence in Nepal. He hoped that the project would be successful soon so that the cement produced in Nepal could be exported to the international market.
According to the information published by Nepal Cement Manufacturers Association, there are more than 40 cement and cement clinker production plants in Nepal at present, but due to the annual growth rate of 10% to 15% of the demand for cement and related products in the domestic market, the output of domestic manufacturers can not meet the demand. Imported products have accounted for about 15% of Nepal's domestic market demand.
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