Tangshan Jidong Cement Co., Ltd. is a

Chinese Chinese can refer to: * Something related to China * Chinese people, people of Chinese nationality, citizenship, and/or ethnicity **''Zhonghua minzu'', the supra-ethnic concept of the Chinese nation ** List of ethnic groups in China, people of va ...

cement manufacturing company, ranked the 6th largest manufacturer of cement in the world by Global Cement Magazine based on 2011 data. The cement maker is part of the Jidong Development Group, a holding company with interests in machinery, real estate, and production of other construction materials. Jidong expanded outside of China for the first time in 2010 when it entered into a deal to build a new cement plant in

Limpopo Limpopo is the northernmost province of South Africa. It is named after the Limpopo River, which forms the province's western and northern borders. The capital and largest city in the province is Polokwane, while the provincial legislature is ...

South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...

. The US$221 million investment was funded by a consortium that included the

China Africa Development Fund The China-Africa Development Fund, more commonly known as CAD Fund, is a Chinese private equity fund solely funded by China Development Bank, a Chinese government policy bank. The aim of the fund is to stimulate investment in Africa by Chinese co ...

, Chinese commercial banks, and

Nedbank Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group. Nedbank' ...

, along with equity stakes by Continental Cement and Women Investment Portfolio Holdings. In an interview with ''The Financial Times'', Chen Ying, an executive of Jidong Development Group, explained that the investment was driven by his belief that Africa would progress and grow as fast as China. Before the investment, in 2007 Jidong and Women Investment Portfolio Holdings, a black women empowerment themed fund, had already partnered up to deliver Dunshi branded cement in South Africa. The new plant was enthusiastically welcomed by South African publication ''Moneyweb'' which predicted the new facility would "shake heindustry to its foundations" because it would shatter the "old cement cartel".

References

{{Construction and civil engineering companies of China Cement companies of China Companies based in Hebei Chinese companies established in 1994 Chinese brands