Indonesia`s Semen Gresik to invest US$765 mln in projects

Antara News, Thursday, March 18, 2010 16:08 WIB

Jakarta (ANTARA News/Asia Pulse) - Indonesia\'s PT Semen Gresik (JSX:SMGR) said it will invest around US$765 million to build two new cement factories and a power plant in the next two years.

Corporate secretary Sunardi Prionomurti said the two cement factories with a combined cost of around US$630 million, will be built in Java and Sulawesi.

Prionomurti said the management of the state cement maker may also need fund to acquired PT Kertas Kraft, a producer of kraft paper used for cement sacks in Aceh.

Aceh Governor Irwandy Darussalam said Semen Gresik has pledged to inject funds to support the state paper maker, which has been hit by financial problems.

Source:
Business in Asia Today - March.18, 2010
published by Asia Pulse