TIANJIN, CHINA (January 12, 2010) -- Beijing-based China National Building Material Group Corp. (CNBM) is investing 1 billion yuan ($146.5 million) to build a production base for windmill blades at the Lingang Industrial Park in the city of Tianjin.

CNBM signed an agreement with Tianjin officials on Dec. 30, the company said a news release. The project is expected to come on stream in March 2012, with annual output of 350 sets of 3-megawatt-or-higher turbine blades.

Chairman Song Zhiping said CNBM sees Tianjin as an important base and will expand its investment there in new energy and new materials.

State-owned CNBM claims more than 80,000 employees and more than two dozens of subsidiaries, including Beijing New Building Material (Group) Co. Ltd. and Zhejiang Jushi Group. Co. Ltd.