Peng Sheng launches capacities on production of footwear, construction materials

This multiple-discipline enterprise will process raw leather and produce footwear and ceramic tiles.

The venture will process 600,000 units of cattle leather, produce 400,000 pairs of footwear and 4 million square meters of ceramic tiles a year once it will reach project capacity in 2011-2012.

New enterprise is planning to export at least 70% of produced leather and footwear, as well as 55% of ceramic tiles.

Peng Sheng JV LLC with charter capital of US$3 million was founded by Wenzhou Jinsheng Trade Co., Ltd (China) and Sinlong LLC (Uzbekistan) on parity terms.

Wenzhou Jinsheng Trade Co., Ltd undertook obligation to invest US$26 million to the project, including US$12.3 million in the first stage (till 1 June 2010).