PT Indocement - April 2016
According to PT Indocement, its new plant in Citeureup, West Java, is due to be operational in 3Q16. The company has set aside IDR2.3trn (US$173.4m) from its 2016 capex to finish the IDR6.5trn project, with the remaining capex reportedly being used for maintenance activities elsewhere.
Meanwhile, the company has acquired a stake in marine transport services firm, Lintas Bahana Abadi through its subsidiaries Bahana Indonor and Indomix Perkasa. The deal, which is worth US$2.1m, is expected to support Indocement’s activities in the marine transport sector and has reportedly been fully-financed by the two firm’s internal cash. Lintas Bahana will become a subsidiary indirectly owned by Indocement.