Mr. Wang Sunxun, Deputy Director, National People's Congress
Mr. Xun Min, Vice-Mayor, Rizhao
Mr. Liu Shouliang, Secretary, CPC, Ju Xian,
Ms. Wang Hongcai, Mayor, Ju Xian,
Mr. Liu Jia Lou, Vice-Chairman, Shandong Binani Rongan Cement Co. Ltd. & Chairman, Rongan Group
Mr. Braj Binani, Chairman, Binani Industries Limited

Ladies and Gentlemen,

A very good morning to all of you.

It is indeed a pleasure to be here in this beautiful town of Gongguan in Rizhao City to witness the inauguration ceremony of 2nd Clinkerisation Plant of Shandong Binani Rongan Cement Co. Ltd. This joint venture, formed in 2007 has crossed several milestones. Today’s event marks yet another high point when commercial production has commenced at the new Clinkerisation Plant.

The Plant has been designed using the best technologies available and conforming to the most advanced international emission standards. The Plant will have the lowest energy consumption for production of clinker and is one of the few plants of its kind in China. This amply illustrates the Indian company’s commitment towards optimum utilization of resources and preserving the local environment while striving for the most sophisticated technologies.

The success of the joint venture between the two companies not only demonstrates the synergies and complementarities that exist in the capabilities of the companies of the two nations, but is also reflective of the growing dynamism in the economic engagement between India and China and the transformational impact that the investment cooperation between the two countries will herald in.

India-China trade has grown more than 20 times in the last 10 years. From less than US$ 3 billion in 2000, trade between the two countries touched US$ 74 billion in 2011. While trade between the two countries has grown rapidly, bilateral investments have not reached levels that could justify the size and the growing role of the two economies in today’s globalized world. We believe that Binani Cements’s investment in Shandong Binani Rongan Cement Co. Ltd. is a beginning in the right direction that will result in mutually beneficial outcomes for both India and China.

Rongan Group, which has won several honours in sectors like cement, real estate and tourism development has found an ideal partner in Binani Group, which is one of the most trusted companies in India with interests in cement, glass fibre, zinc, composites, project management services and construction in regions as diverse as Asia, Europe, Africa and Middle East. This mutually beneficial cooperation between Rongan Group and Binani Group is an example worth emulating by Indian and Chinese companies seeking to partner with each other.

Ladies and Gentlemen,

You are all aware that India and China are leading economies, a fact recognized across the globe. Both countries recorded high growth rates despite the adverse impact of global economic recession. Today there is unprecedented engagement between India and China on many fronts, whether it be in trade and commerce, investments, high level interactions, people to people and cultural exchanges. Although unprecedented, this is but a fraction of what we can do together.

I thank the leadership of Rizhao City and Shandong Province for their support to the joint venture and for gracing this occasion and I wish this venture all success.

Thank You
Xie Xie