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Semen Indonesia has its eye on Myanmar
Cement company PT Semen Indonesia is continuing its business expansion by trying to break into the market in Myanmar
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Cement company PT Semen Indonesia is continuing its business expansion by trying to break into the market in Myanmar.
Previously, the company successfully entered the Vietnamese market.
Semen Indonesia president director Dwi Soetjipto said the expansion into Myanmar would focus on working in that country's local market as well as foreign markets.
'We plan to build a factory with a production capacity of 1 million tons for exportation to Bangladesh and the Middle East,' Dwi said as quoted by kontan.co.id on Thursday.
Dwi said the company had set a budget of US$200 million for the expansion plan and the construction of the factory, which is targeted to start operating in 2017.
Dwi added that the company was currently in the process of selecting three local business partners in Myanmar, from which it would then select one to become a partner by the end of this year.
'Whether our expansion focuses on acquisition or cooperation regarding the new factory has not yet been determined,' Dwi said.
