China Glass and Hony Group set up Belt and Road Glass Fund

China Glass and Hony Group Management have formed a joint venture to establish the Belt and Road Glass Fund, which will invest in glass factories in Belt and Road Initiative countries. Hony Group plans to invest about US$300 million in the fund. The fund has already confirmed the acquisition of a 69.71% stake in Orda Glass, which owns a project to build a float glass line in Kazakhstan.

“The group has been actively seeking to expand its glass production businesses outside [China] to leverage on the advantages and opportunities resulting from the Belt and Road Initiative.”scmp.com

• 1 source
• scmp.comChinese glassmaker takes Silk Road with eye on spot among world’s top three producers | South China Morning PostEric NgDec 14, 2017

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