PT Holcim Indonesia said it hopes to have a disbursement of a US$150 million loan from the International Finance Corporation (IFC) in 2009.
Rusli Setiawan, the chief spokesman of the Indonesian unit of the Swiss-based world’s second largest cement producer, Holcim Ltd, told the newspaper Investor Daily, the loan is being processed.
Rusli said Holcim, which already has a cement factory in Cibinong, West Java, will need the loan to finance the construction of a new factory in Tuban, East Java.
The company will invest around US$500 million in the new factory which will have an annual production capacity of 1.7Mt, he said.
The new factory will increase the production capacity of the company, now the third largest producer in the country to 9.6Mt a year.