TAIPEI (Taiwan News) — Asia Cement said Friday it is investing NT$2.52 billion (US$84 million) in a large-scale battery energy storage project in Kaohsiung’s Siaogang District, aiming to diversify revenue beyond cement production.

The investment will be phased in starting Q4, funded through a mix of internal capital and bank loans, per CNA. The company said the project is part of a broader strategy to diversify revenue and strengthen profits.

The 100 MW facility will participate in Taiwan Power Company’s energy storage system. Asia Cement received Taipower’s connection approval last year.

Additionally, Asia Cement reported a July revenue of NT$5.83 billion, a 13.18% drop from a year earlier, citing lower cement prices in China despite higher sales volumes, per Anue. Revenue for the first seven months of the year reached NT$41.09 billion, down 2.63% year-on-year.

In Taiwan, steady growth in cement sales and strong performance from subsidiary Ya Tung Ready-Mix have helped offset macroeconomic trends. The company said these factors have stabilized revenue despite market pressures.

In China, cement prices are showing signs of recovery. Asia Cement said it will monitor trends to maintain its competitive edge, with performance still exceeding the industry average.