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Indonesian cement company to invest in 2012 for plant construction in Sumatra, Java & Myanmar

Posted on : 07 Jun, 2012

 

The Jakarta Globe reported that PT Semen Gresik, an Indonesian cement producer plans to invest US$ 756m (IDR7 trillion) this year to build new cement plants in Java and Sumatra. The company will seek a bank loan to finance the construction of the plants, said Dwi Soetjipto, president director of state-owned Gresik. He also added that the company would seek shareholder approval for the construction on 26 June. “We will add the plants to directly support the production process, or the core business of the company,” he said.

 

The company is also planning to build a cement plant in Myanmar, as the local industry can only meet half of the domestic demand, said Semen Gresik’s finance director, Ahuanizzaman. The company is seeking a local partner in Myanmar, and construction of the 600,000 tons per year plant is expected to begin this year. The estimated cost of the plant is about IDR 1 trillion.

 

A more detailed examination and discussion of the rising cement demand and supply in Indonesia and Myanmar will be addressed at the 14^th Asia CemenTrade inYangon on13-14 September. Complete program details will be available shortly.

 

Meanwhile, one mayPre-Register and reserve seats to attend the event.Further queries can be forwarded to Ms. Grace at grace@cmtsp.com.sg

 

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