Lafarge is planning to build two new cement plants in Indonesia, a senior government official told Dow Jones reporters on Thursday.
"They will invest around US$450m to build two cement plants on Sumatra island," Investment Coordinating Board Chairman Muhammad Luthfi said.
He said Lafarge will need between 24 and 32 months to complete the development of the two cement plants, which will be built in the Aceh Province.
"We have already issued a license for Lafarge to build the cement plants," he said. He expects the development of the plants to start later this year.
Lafarge already owns a controlling stake in unlisted cement maker PT Semen Andalas.