Semen Indonesia in joint venture talks

Semen Indonesia is in early talks to establish joint ventures with three potential partners, the company’s president director, Dwi Soetjipto, has revealed.

Speaking to local press, Dwi said that three investors have “declared their interest to create joint ventures with Semen Indonesia,” including investors from Indonesia and overseas.

Indonesia’s leading cement producer is still reviewing the proposals and has yet to make a decision on whether the partnerships would be the right strategic move, Dwi added. The main consideration is whether such partners would improve Semen Indonesia’s competitiveness by venturing into new areas.

Following the acquisition of a majority stake in Vietnam-based producer Thang Long Cement in 2012, it has widely been reported that the company is looking to enter the Myanmar market, either by acquiring a company or in partnership with other investors. Beyond Southeast Asia, Semen Indonesia is also considering acquiring grinding mills in Bangladesh, corporate secretary Agung Wiharto said last week. However, Wiharto noted that the move into Bangladesh would not take place this year.