PT Semen Gresik plans Myanmar plant, considers Vietnam investment

Indonesian state producer, PT Semen Gresik, is planning to build a cement plant in Myanmar and is also looking to acquire a Vietnamese company, according to chief executive Dwi Soetjipto.

"We're studying a plan to set up a JV in Myanmar, with Gresik as the majority owner. The plant capacity may be between 1.5-2Mta," Dwi Soetjipto told reporters after a shareholders' meeting.

Mr Soetjipto also noted that while Vietnam is currently experiencing overcapacity, Gresik is currently looking at a possible investment there as it may get a “relatively good price,” Dow Jones quoted him as saying. Mr Soetjipto added: “we can also use production in Vietnam to supply the Indonesian market via Sumatra island.”

Semen Gresik may decide on the possible investments by the first half of next year, the CEO commented.