Indonesia’s Semen Cibinong to raise production, reduce exports

Indonesia’s Semen Cibinong to raise production, reduce exports
Published: 27 April 2005

Indonesia’s PT Semen Cibinong  aims to produce 7.25Mt of cement this year, up from 6.22Mt in 2004, its president Timothy David Mackay said.

The company has set aside US$30m to expand its production capacity, Mackay said.

He said the company has reduced its export target to 1.5Mt this year from 2Mt last year as the price of cement has declined in international markets.

He said to make up for an increase in production cost as a result of the rise in the price of coal fuel, the company will raise its cement price by five per cent.

He said the company also plans to restructure a debt of US$500m to reduce its repayment burden.