Gresik to seek extra funds for new plant

Gresik to seek extra funds for new plant
Published: 31 July 2006

PT Semen Gresik said it will seek Rp2.28 trillion (US$253m) in additional funds to build a new Rp3.5 trillion cement factory.  The company is currently only able to cover 35 per cent or Rp1.22 trillion of the total cost, its president Dwi Sutjipto said.   Sutjipto explained that the remainding 65 per cent of the cost will be acquired through either a bank loan, bond fund or other form of fund.   Construction is set to start in the second half of next year, he said.