Gresik to invest in two new plants, Indonesia

Gresik to invest in two new plants, Indonesia
Published: 18 March 2010

Indonesia’s PT Semen Gresik said it will invest around US$765m to build two new cement factories and a power plant in the next two years.

Corporate secretary Sunardi Prionomurti said the two cement factories with a combined cost of around US$630m, will be built in Java and Sulawesi.

Sunardi said the management of the state cement maker may also need fund to acquired PT Kertas Kraft, a producer of kraft paper used for cement sacks in Aceh.

Aceh Governor Irwandy Darussalam said Semen Gresik has pledged to inject funds to support the state paper maker, which has been hit by financial problems.