PT Indocement - July 2014
Indonesia has finally announced Joko “Jokowi” Widodo as its new president following the country’s elections earlier this month. Jokowi’s pledge that infrastructure would be a focus area during his presidency gave construction-related shares on the Jakarta Stock Exchange a welcome boost at the end of last week. PT Indocement will be among the producers hoping that greater political stability brings about new demand for cement in the country as the Indonesian Cement Association (ASI) reveals that cement sales in the first half of this year have slowed to such an extent that they may not hit the target set for 2014. Over the first six months, domestic cement sales reached 28.9Mt, just 3.9 per cent up on the same period last year and well below the six per cent growth target.