Jidong, CAD Fund team up for cement plant in South Africa

Facility with capacity of 1m tons to be completed within 18 months

BEIJING - Cement producer Jidong Development Group and the China-Africa Development (CAD) Fund will set up a more than $200 million cement plant in South Africa's Limpopo province, China's largest investment in the African country for two years.

The two Chinese entities have set up a joint venture, in which Jidong holds a controlling 60 percent stake. The joint venture signed the deal with its South African partner Women Investment Portfolio Holdings (WIPH) on Thursday, sources close to the matter told China Daily.