Chinese glass manufacturer CSG Holding Company Ltd. plans to set up an engineering glass plant in the southwest Sichuan province with a registered capital of CNY 124 million (USD 17 million), accordin…
Chinese glass manufacturer CSG Holding Company Ltd. plans to set up an engineering glass plant in the southwest Sichuan province with a registered capital of CNY 124 million (USD 17 million), according to an announcement by the company. The plant, called Chengdu CSG Engineering Glass Co. Ltd, will produce energy-saving, environmentally-friendly and low-E coated glass, and is aiming at an annual production capacity of 1.25 million square metres of coated insulating glass on completion of the first phase. The estimated investment for the first phase of construction (expected to be completed in mid-2009) is CNY 248 million. In addition, CSG has increased the planned investment in Hebei CSG Glass Co Ltd, a joint venture with a foreign firm, from CNY 645 million to CNY 739 million, and raised the registered capital from CNY 215 million to CNY 248 million. The company, based in Hebei province, will built two high-grade float glass production lines with a daily melting capacity of 600 tons and 900 tons respectively At the same time, CSG also plans to spend CNY 19.5 million on gas disposal technology upgrades at Guangzhou CSG Glass Company. CSG, headquartered in south China“s Shenzhen city, has built large production bases in Shenzhen, Guangzhou, Tianjin, Chengdu, Dongguan and Hainan, and has opened subsidiaries in Australia and Hong Kong.