Rajawali wants unit Semen Gresik to be a regional cement player, Indonesia

Rajawali wants unit Semen Gresik to be a regional cement player, Indonesia
Published: 28 September 2006

The Rajawali Group wants PT Semen Gresik, in which it holds a 24.9 per cent stake, to become a regional cement maker in future, Rajawali managing director Daryoto Setyawan said. 
 
Setyawan, who was appointed the new deputy chief commissioner of Semen Gresik yesterday, said there was no firm timetable for the regional expansion plan though he hoped to get it underway by next year. 
 
In July, Rajawali acquired its stake in Semen Gresik from Cemex SA for US$337m. 
 
Setyawan said to expand regionally, Semen Gresik, could either acquire existing plants or start its own plants in neighbouring country Malaysia or Thailand.