PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2016

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at March 31, 2016 and December 31, 2015 consisted of the following:

	March 31, 2016		December 31, 2015
	USD		USD
Buildings		31,908,501		31,505,133
Machinery and equipment		57,403,634		54,640,502
Furniture, fixtures, office equipment and vehicles		8,166,697		7,859,951
Total property, plant and equipment, gross		97,478,832		94,005,586
Accumulated depreciation		(33,373,030)		(31,521,859)
Total property, plant and equipment, net		64,105,802		62,483,727
Construction in progress		33,626,558		26,115,927
Prepayment for property, plant and equipment		17,768,363		16,764,597
Property, plant and equipment, net		115,500,723		105,364,251

Depreciation expense for the three months ended March 31, 2016 and 2015 was $2,267,623 and $2,201,020, respectively.