Cheung Kong Infrastructure Holdings Ltd. yesterday announced that it plans to invest HKD700 million, an amount equivalent to USD90.32 million, to build a cement plant in Yunfu, Guangdong Province through a subsidiary called Green Island Cement.

The plan has been approved by the Development and Reform Committee of Guangdong Province and will kick off construction in 2012.

Yeung Tak Chuen, vice president of the Hong Kong-listed firm, has signed a contract with Huang Qiang, mayor of Yunfu, to acquire a 700-acre parcel for the new cement plant.

The new plant will produce 4,500 tons of cement clinker per day.

At present, Green Island Cement owns two cement plants in Guangdong and one in Hong Kong.