Gresik earmarks funds for expansion

Gresik earmarks funds for expansion
Published: 08 February 2011

Indonesian cement maker PT Semen Gresik plans to set aside IDR6.3 trillion (US$706 million) in funds until 2015 to expand its business.

"The funds will be needed to increase annual production capacity to 30.5 million tons in 2015 from 20Mt in 2011," PT Semen Gresik president director Dwi Sutjipto said following a working meeting with the House of Representatives (DPR) Commission VI at the parliament building here on Monday.

The funds would originate from both external and internal sources.

"About IDR4trn or 50 per cent of the funds will come from external sources," he said.