Government & Cemex to continue out of court negotiations

Government & Cemex to continue out of court negotiations
Published: 01 March 2005

Indonesian government and Mexico based company Cemex Asia continued their out of court negotiation on Semen Gresik even though until yesterday there had not been any conclusion on that.  The Senior Economic Minister Aburizal Bakrie said that the government would wait for the initiative of Cemex following the deadline of out of court negotiation period of the two parties. But, he said, the government had been preparing an option (reports Bisnis News).

"The decision has been there. But we have to wait the formal proposal of Cemex on arbitrage process. The process of out of court settlement will be continued with only one option to discuss," he told journalist before the budget meeting between the government and parliament in Jakarta yesterday.  But Minister Bakrie failed to explain the detail of the option provided by the government.  

Before the restarting of out of court negotiation, he said, the government asked Cemex to suspend the arbitrage process temporary. The two parties agreed to freeze the arbitrage process, which was supposed to start on January 11, temporary. On the negotiation process the government had six options to discuss.