Holcim Indonesia Tbk, formerly PT Semen Cibinong, plans to set up a new plant in Tuban, East Java, with an investment of about US$300m, the company’s president director, Tim Mackay, said here on Monday. "At present a feasibility study of the project is still being carried out but it is hoped the project could be realized soon," he said. The fund for the investment is expected to come from internal cash supply, but as it would not be sufficient, the shortage would have to be sought from loans, he said.
Holcim Indonesia is a public company with most of its shares (77.33 per cent) belonging to Holderfin BV Ltd. Mackay said the company would continue to concentrate on meeting local market demands by expanding its sales through increasing the number of its outlets from 6000tpd to 8000tpd. "Excess production will be exported," he said.
Until the end of 2005, Holcim’s sales rose by 27 per cent to Rp3 trillion (US$329.2m) from Rp2 trillion in 2004. Its earnings before interest, tax, depreciation and amortization (EBITDA) meanwhile rose by 58 per cent to Rp545 billion.