Indonesian cement maker, PT Indocement Tunggal Prakarsa Tbk , aims to raise its production capacity to 20Mt by the end of 2009 from 17Mt currently, its president said on Thursday. The country’s second largest cement maker has a market capitalisation of $2.2 billion and is controlled by Germany’s Heidelberg Cement.
"We believe that Indocement is the most capable cement producer to supply future domestic demand even if it grows more than 10 percent per year," president director Daniel Lavalle said in a statement. The company said it has several projects currently going on to raise production capacity.
Some analysts and industry experts expect Indonesia’s cement sales to rise more than 5 per cent this year, picking up from 1.8 percent growth last year, if the government speeds up infrastructure projects.