October 25 -- Shanxi Xishan Coal and Electricity Power (000983.SZ) plans to set up a joint venture, Shanxi Xishan Huatong Cement, with Huatong Bridge Group, reports yicai.com, citing a company filing.

Xishan Coal will contribute 45 million yuan in return for a 90 percent interest in the joint venture.

The joint venture will engage in the production and sale of cement and cement products, stone materials, slabstones, stone powder, concrete and wall materials. It will also be involved in the transportation business.

The joint venture will set up a facility with production capacity of 4,500 t/d of clinker high-volume fly ash. Once it is put into operation, the facility will be able to produce 1.4 million tons of clinker and 2.26 million tons of cement per year. Annual profit contribution is expected to total 115 million yuan on revenue of 443 million yuan.

The facility has a breakeven period of 7.77 years.