Tianshan Cement completes Kazakhstan investment, acquires 70% QazCement stake

Xinjiang Tianshan Cement Co., Ltd. has completed its strategic overseas investment in Kazakhstan, acquiring a 70% equity stake in QazCement Industries LLP through its indirect subsidiary, Zhongya SPV Company. The investment, approved on April 25, 2025, involved a capital injection of $37,850,400 into QazCement Industries LLP. This move aims to establish a 3500t/d clinker and cement production line in Kazakhstan's Aktobe region.

The transaction successfully navigated all required regulatory approvals, including the establishment registration of Zhongya SPV Company and obtaining necessary permits from China's National Development and Reform Commission, the Ministry of Commerce, and the State Administration of Foreign Exchange. Additionally, antitrust and underground rights transfer approvals in Kazakhstan have been secured.

With the fulfillment of all agreed-upon equity delivery conditions, Zhongcai Cement transferred its rights and obligations under the "Investment Framework Agreement" to Zhongya SPV Company. The Company has completed the capital increase and acquired the 70% equity in QazCement Industries LLP, with all shareholder change registration procedures finalized.