Semen Gresik draws interest from foreign investment firms

Semen Gresik draws interest from foreign investment firms
Published: 08 March 2004

Several foreign investment firms have expressed interest to buy a stake in state-owned cement maker PT Semen Gresik should Mexican cement firm Cemex SA decide to pull out from the local firm, the daily Koran Tempo reported, quoting State Minister for State Enterprises Laksamana Sukardi.  Sukardi said the government is looking for potential buyers in case Cemex sells its 25.4 pct stake in Semen Gresik. Mostly foreign investment firms have responded, he said but declined to the name the companies.

Earlier the Mexican firm also threatened to pull out from Semen Gresik if the Indonesian government continues to renege on its promise to sell its remaining 51 pct stake in Semen Gresik.  "If Cemex insists like that, we can find a replacement," Sukardi said.