Indonesia’s Semen Gresik to spend US$240m in 2H

Indonesia’s Semen Gresik to spend US$240m in 2H
Published: 20 August 2010

Indonesian state-owned cement maker PT Semen Gresik said it will use its remaining capital expenditure of US$240m to continue construction of new cement factories and a power plant in the second half of the year.

This year, the country’s largest cement producer has set aside US$400m for capital expenditure but US$160m of which had been used in the first half of the year.

The company is building the fourth unit of Semen Tuban in East Java and the 5th unit of Semen Tonasa in South Sulawesi, the company’s president Dwi Soetjipto said.

The company also is building a 70MW power plant in Tonasa, Dwi said. The fourth unit of Semen Tuban is already 37 per cent completed and it is expected to be operational in the first quarter of 2012.

Meanwhile, the fifth unit of Semen Tonasa has been 41 per cent completed and is expected to be in operation late 2011.