Wednesday, March 27, 2013

Indonesian cement company solidifies Myanmar deal


Wednesday, 27 March 2013 15:49 Mizzima News

Indonesia’s largest cement producer, PT Semen Indonesia Tbk, says it will begin building a US $200 million cement plant in Myanmar early in 2014, according to a report in the Jakarta Post on Tuesday.

The Indonesian firm originally announced that it was seeking Myanmar partners and that it intending starting construction by the end of this year.

Semen expects to pitch in about $70 million for the plant, from which it aims to control about a 40 percent stake in the planned joint venture, president-director Dwi Soetjipto told reporters in Jakarta on Monday.

The construction of the cement plant, designated with a capacity of 1 million tons per year, is scheduled to start early next year, while operations are expected to begin in 2017, Jakarta Post quoted Dwi as saying.

The new plant will reportedly serve the Myanmar market and neighboring countries such as Thailand and Bangladesh.
Full Jakarta Post article: Semen Indonesia plans $200m plant in Myanmar
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