Cemex debates new factory option

Cemex debates new factory option
30 January 2004

Options allowing Cemex to build cement factories can be considered an alternative by Indonesia’s government and Cemex to have out of court settlement concerning PT Semen Gresik case.  Roes Aryawijaya, Deputy State Minister for State Enterprises for Mining, Telecommunication, and Strategic Industries, said yesterday that there were two options to settle the case.  The first option was government should buy all Cemex-owned shares in Semen Gresik, and the second one was government should sell all Semen Gresik’s shares to Cemex.  Recently, the regulator offered an option allowing Cemex to build cement factories in Indonesia.

Cemex, according to Roes, once said to the government that there was still a chance for out of court settlement.  However, added Roes, the currently running arbitrage process could not be stopped unless both pasties asked for the cancellation of the process.
Until now, he confided, the government and Cemex had not reached a converging point about the two options.  Roes revealed that the government could not estimate how long the arbitrage process would take place.

Published under Cement News