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Jakarta Post

Semen Indonesia plans $200m plant in Myanmar

  • Linda Yulisman

    The Jakarta Post

Jakarta   /   Tue, March 26 2013   /  12:19 pm

Indonesia’s largest cement producer PT Semen Indonesia Tbk (SMGR) says it will build a US$200 million cement plant in Myanmar early next year as part of its expansion into the Southeast Asian market.

The company may pitch about $70 million for the plant, which it would set up with its Myanmar partners, as it aimed to control about a 40 percent stake in the planned joint venture, president director Dwi Soetjipto said on Monday.

“Out of the [$70 million], we may need between $40 million and $50 million in funds [from loans],” he told reporters after a discussion on the cement industry’s outlook in Jakarta.

The rest would be internal cash but the company had also opened up the possibility of issuing bonds, he went on.

The construction of the cement plant, designated with a capacity of 1 million tons per year, is scheduled to start early next year, while o...