Aug 28th 20008, the South Cement Company under the CNBM has signed a financial corporation agreement with Shanghai Branch of China Development Bank.
   
According to the agreement, Shanghai Branch of China Development Bank has agreed to provide credit facility of 15 Billion Yuan to the South Cement Company and its affiliated companies. It also will provide long term financial supports to consolidation and restructuring, industrial integration, infrastructure construction, technology innovation, energy saving, and other operating business of the South Cement Company. This is the first time that the South Cement Company received direct large amount credit granting from financial organizations. Besides the credit granting from bank of communication, China Minsheng Bank, and other financial organizations, the South Cement Company have received 20 Billion Yuan for consolidation and restructuring. This agreement has formed foundation for long term corporation between the South Cement Company and China Development Bank, which has provided rich capital supply to the the South Cement Company in Consolidation and Restructuring and projects development such as Power Generation by surplus heat.