Indonesia’s second largest cement maker PT Indocement Tunggal Prakarsa (JSX:INTP) said it will spend up to US$75 million in capital expenditure this year.
Company Executive Director Kuky Permana said the fund will be used to finish modification of a number of its factories and to build installations for alternative fuel.
Its Finance Director Christian Kartawijaya said the company will retain part of its net profit in 2006 for new investment.
Last year, the company, which is 65.12 per cent owned by ’s HeidelbergCement, reported Rp593 billion (US$65.8 million) in net profit.
Christian said after the completion of modification of its 8th factory in Citeureup, Bogor, the company’s production capacity will increase to 17.1Mta.