PT Semen Indonesia has plans to invest between IDR4trn (US$303m) and IDR5trn (US$380m)in a new plant in Aceh, according to Corporate Secretary, Agung Wiharto. The company established a new entity on 22 April in cooperation with local company PT Samana Citra Agung, forming PT Semen Indonesia Aceh. This new entity will become the operator of the plant.
Samana Citra is the majority owner of Semen Indonesia Aceh as it owns the land on which the new plant was constructed. However, Semen Indonesia has increased its stake to 24.3 per cent after investing IDR58.2bn (US$4.4m). Previously Semen Indonesia only held a 2.8 per cent stake. Mr Wiharto said that Semen Indonesia will gradually increase ownership of the Aceh plant by injecting more capital, stating “as we add more capital to the plant, our stakes will increase. We want to have 80-85 per cent ownership by 2020.”
In addition to the Aceh plant, Semen Indonesia is also developing a new plant in Rembang, Central Java. Both plants are scheduled to begin operations next year and may each add 3Mta of installed capacity.
