The ¥2.3 trillion budgeted for transport infrastructure out of the ¥4 trillion fiscal plan will spur demand for an additional 500 million metric tons of cement, the Ministry of Industry and Information Technology said Wednesday. Fixed-asset investment in the building materials industry surged 56.2% year-on-year to ¥183.8 billion in the first 5 months of 2009, where the cement segment siphoned ¥52 billion and churned out ¥12 billion worth of goods. Sichuan province's rebuilding effort was behind the strong appetite for cement.
$1 = ¥6.8