PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at June 30, 2013 and December 31, 2012 consisted of the following:

	June 30, 2013		December 31, 2012
	USD		USD
Buildings		31,296,990		25,183,496
Machinery and equipment		27,169,226		29,625,166
Furniture, fixtures, office equipment and vehicles		7,121,204		6,513,482
Total property, plant and equipment, gross		65,587,420		61,322,144
Accumulated depreciation		(23,479,901)		(24,356,752)
Total property, plant and equipment, net		42,107,519		36,965,392
Construction in progress		14,813,753		3,501,404
Prepayment for property, plant and equipment		5,416,150		10,858,381
Property, plant and equipment, net		62,337,422		51,325,177

Depreciation expense for the three months ended June 30, 2013 and 2012 was $1,571,232 and $1,184,498, respectively. Depreciation expense for the six months ended June 30, 2013 and 2012 was $3,105,739 and $2,281,223, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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