Gresik seeks US$525m loan

Gresik seeks US$525m loan
Published: 04 June 2007

Indonesia’s state-owned cement maker PT Semen Gresik said it needs US$525m in loan to build new cement factory and power plants, which will cost at least US$750m. 
 
The cement factory will cost around US$550m and the power plants US$200m, company President Dwi Soetjipto said.  
 
Chief commissioner of the company Darjoto Setyawan said the company plans to build three power plants - in Tuban, Tonasa and Padang.  
 
The power plants will use coal for fuel, therefore, the country’s largest cement producer may decide to acquire a coal mining company to guarantee coal supply to the power plants.