KATHMANDU: Chinese company Hongshi Holding Group has bought a large share of Indian Cement Company Ambuja.
Hongshi Holding Group is set to lead the Dang Cement Industries P. Ltd by owning a large part of Ambuja Cement Company’s shares. Amuja Cement Company is the major shareholder of the company.
Hong Kong Red Lion, a sister company of Hongshi Holding Group, is running the cement factory in partnership with Nepali industrialists by buying shares of Ambuja Cement company.
According to the agreement, Chinese people will have 85 percent of investment in the company while the remaining 15 percent will be invested by the Nepali entrepreneurs.
The process of establishing the company will begin once the share is transferred.
Comment