Wednesday, 27 June 2012 16:45 Mizzima News
An Indonesian company will build a US$ 159 million cement plant in Burma with up to 1 million tonnes capacity a year, officials announced on Tuesday.
PT Semen Gresik, Indonesia's biggest cement maker, will build the plant next year, chief executive Dwi Soetjipto said, according to domestic Indonesia media.
“We will set up a joint-venture with a local partner to build a factory with a capacity of 600,000-1 million tonnes a year.” he said, based on anticipated demands for infrastructure as foreign companies move into Burma in the coming years.
On Februrary 2, Mizzima reported that Siam City Cement Plc (SCCC) of Thailand was looking at building a cement plant in Burma.
Managing director Philippe Arto said the company already had contacts and is studying potential investment locations throughout the country.
“For SCCC, we see the real potential and are positive about Burma. We have to act fast to grow our business there,” he local media.
SCCC was chosen as one of the prospective cement companies to be involved in the Dawei deep-sea port industrial project, according to an article published late last year. SCCC Executive Vice President Chantana Sukumanont confirmed that SCCC had already carried out a feasibility study to determine if a cement plant in Burma would yield favorable results.
Arto was quoted as saying he was concerned, however, about “regulations and exchange rates.” Burma floated the exchange rate of the kyat last month, in a move designed to make foreign investment easier, and it is in the process of modernizing its financial system after years of neglect.
Chantana said SCCC is also looking at acquiring other assets in Burma.
An Indonesian company will build a US$ 159 million cement plant in Burma with up to 1 million tonnes capacity a year, officials announced on Tuesday.
PT Semen Gresik, Indonesia's biggest cement maker, will build the plant next year, chief executive Dwi Soetjipto said, according to domestic Indonesia media.
 |
| A facility of the PT Semen Gresik Indonesia company of Indonesia. Photo: semengresik.com |
“We will set up a joint-venture with a local partner to build a factory with a capacity of 600,000-1 million tonnes a year.” he said, based on anticipated demands for infrastructure as foreign companies move into Burma in the coming years.
On Februrary 2, Mizzima reported that Siam City Cement Plc (SCCC) of Thailand was looking at building a cement plant in Burma.
Managing director Philippe Arto said the company already had contacts and is studying potential investment locations throughout the country.
“For SCCC, we see the real potential and are positive about Burma. We have to act fast to grow our business there,” he local media.
SCCC was chosen as one of the prospective cement companies to be involved in the Dawei deep-sea port industrial project, according to an article published late last year. SCCC Executive Vice President Chantana Sukumanont confirmed that SCCC had already carried out a feasibility study to determine if a cement plant in Burma would yield favorable results.
Arto was quoted as saying he was concerned, however, about “regulations and exchange rates.” Burma floated the exchange rate of the kyat last month, in a move designed to make foreign investment easier, and it is in the process of modernizing its financial system after years of neglect.
Chantana said SCCC is also looking at acquiring other assets in Burma.
Subscribe to email feed
