Cemex Asia keen to build cement factory in Indonesia

Cemex Asia keen to build cement factory in Indonesia
26 April 2005

Cemex Asia Holdings Ltd said it wants to invest in Indonesia’s cement industry to help the country cope with a cement supply shortage expected in 2007-2008.  

Minister for State Enterprises Sugiharto said Cemex, which still has an unsettled dispute with the government over state-owned cement maker PT Semen Gresik, has conveyed its interest to the government.  

Sugiharto said the move shown by Cemex could be a sign that it would drop its lawsuit filed with an international arbitration court against the government.  

Cemex said the International Centre for Settlement of Investment Dispute will resume its session on July 28-July 30 on the lawsuit filed by Cemex against Indonesia.  

The dispute was caused by the government’s failure to honor an agreement allowing Cemex, which already owns 25.5 per cent of Semen Gresik, to buy more stake to become a majority shareholder of the country’s largest cement maker.

Published under Cement News