PT Indocement Tunggal Prakasa forecasts flat growth

PT Indocement Tunggal Prakasa forecasts flat growth
Published: 06 February 2009

Indonesia’s second largest cement producer PT Indocement Tunggal Prakasa predicted a flat growth in income this year amid weak demand.

Weak demand for cement in Indonesia would have a negative effect on sales this year, its corporate secretary Dani Handayani said.

Sales may decline but the decline would not be more than five per cent in 2009, Dian said, adding the company expected to see stagnancy in its financial performance.

She said the company, which is 65.12 per cent owned by HeidelbergCement, would spend up to US$90m  this year to finish the construction of a cement mill in Cirebon.

The cement mill was to be completed and operational in 2009, increasing the company’s annual production capacity by 1.5Mt, Dani said to the newspaper Investor Daily.