Sino Clean Energy Inc. (SCEI) Provides Update on 2011 Capital Plans
Sino Clean Energy Inc. issued an update on the company’s planned capital expenditures for 2011, with all the funds used for the addition or expansion of capacity at various production facilities in China.
Sino Clean Energy plans to spend $19.1 million in 2011, up from actual capital spending of $11.2 million in 2010. This level of spending will add 1.55 million metric tons of capacity at two plants in Guangdong province and one in Nanning province. The company reported current production capacity of 850,000 metric tons at the end of 2010.
Sino Clean Energy said that one expansion in Guangdong province became operational in January 2011. This new facility accounted for 300,000 metric tons of the planned 1.55 million ton increase. The company also decided to accelerate the second expansion in Guangdong province because of incentives offered by the local government.
Sino Clean Energy recently reported a large increase in sales in 2010 relative to the previous year. The company’s sales more than doubled to $106.3 million in 2010, compared to 2009 sales of $46.0 million. The company attributed the strong increase to higher demand from existing customers, and the addition of new customers during the year.
For more information on the company, go to sinocei.net
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