Cement News tagged under: Semen Gresik
Indonesia to invest US$6.3bn in new capacity projects24 February 2012, Published under Cement NewsIndonesian cement producers plan to invest IDR57trn (US$6.3bn) to raise domestic production, chairman of the Indonesian Cement Association (ASI) said. The Investor Daily reports the investment is expected to produce an additional 30Mta of cement and could advance total cement production to 90Mta in 2017. Capacity currently stands at 52Mta. “With a population of 240 million and cement prices that continue to go up, it makes Indonesia an attractive market for [investors],” said Urip Timu... |
Gresik eyes controlling stake in Semen Baturaja, increases in production25 January 2012, Published under Cement NewsPT Semen Gresik is targeting a controlling stake in fellow state-owned cement producer, PT Semen Baturaja, which will launch an initial public offering (IPO) later this year. The Jakarta Post reports that Gresik would look at Baturaja’s IPO pricing to follow-up on the acquisition and if a large amount of shares is offered the company would look to buy a majority stake, Gresik’s president Dwi Soetjipto, said. "If they off-load a small amount of shares, we would not absorb, because we wa... |
Semen Gresik forecasts 17% rise in revenue, Indonesia24 January 2012, Published under Cement NewsSemen Gresik expects revenue rising 17 per cent this year from an estimated 12 per cent in 2011, and also expects to raise financing this year for two new projects. . According to according to chief executive, Dwi Soetjipto, the company forecasts sales of 23Mt from the 19.8Mt recorded in 2011, Dow Jones reported. Profits are expected to rise by 10 per cent on the back of increased sales and improved efficiency. The construction of the company’s two new cement plants in Tuban, East Java... |
Gresik announces new investments, bond issue, Indonesia12 January 2012, Published under Cement NewsIndonesia’s largest cement producer, PT Semen Gresik, plans to invest up to US$600,000 on five cement packing plants to be constructed in a number of locations on the island of Kalimantan. Finance director of the company, Ahyanizzama, was quoted by Asia Pulse as saying that construction of these facilities is set to start in the second quarter of this year and will be completed in 16 months. He said the investment is part of the company’s capex plans of IDR5.5trn for this year. Ahyaniz... |