CNBM, Liaoyuan Jingang and Hony Capital entered into the Capital Contribution Agreement to establishing North Cement, which will become the flagship company of CNBM for developing the Group`s cement business in the North Region.

North Cement is registered in Beijing with a registered capital of 1 billion Yuan. CNBM and Liaoyuan Jingang will each contribute RMB450 million, and Hony Capital will contribute RMB100 million. North Cement will be held as to 45% by CNBM, 45% by Liaoyuan Jingang and 10% by Hony Capital.

Different from South Cement and China United, North Cement will corporate with more industrial capital and financial capital to share cement consociation and reorganization in North area. It aims to achieve a cement production capacity of 50 million tons in three years.