PT Semen Gresik Tbk revised the US$1.3bn capital expenditure or IDR14.33trn into IDR6trn for new plant and power plant construction.
President Director of Semen Gresik Dwi Soetjipto said the company will optimise the internal fund to meet the capital expenditure (capex).
"As from the IDR6trn capex, the internal cash is IDR3trn and the rest is from bank loan," he said to Bisnis this week.
Finance Director of Semen Gresik Cholil Hasan said the company formerly allocated US$1.6bn capex this year and cut it down to US$1.3bn and cut it again into IDR6trn.
The capex revision intends to make it effective and the company save more budget amidst the unstable market condition currently.
Semen Gresik has been negotiating with Bank Mandiri on the IDR6trn loan proposal as required by the memorandum of understanding.