Cement maker PT Semen Bosowa Maros in South Sulawesi plans to increase its production capacity to 3Mt in 2009 from 2Mt at present.
The plan is to increase the valuation of the subsidiary of the Bosowa Group when it launches an initial public offering expected in mid 2009, Bosowa chief executive officer Erwin Aksa said.
The capacity expansion will cost at least US$10m to buy new equipment, Erwin said.
The company reported a 15 per cent increase in sales to 1Mt in the first half of this year from 800,000t in the same period last year, he said.
Part of the IPO fund will be used to build new cement factory in that province, the newspaper Investor Daily said.